JLL arranges acquisition financing for Newbond Holding’s acquisition of the Aloft Tampa Downtown

NEW YORK CITY, Sept. 11, 2023 – JLL’s Hotels & Hospitality Group announced today that it has arranged a $29.6 million floating-rate term loan to acquire and renovate the 130-key Aloft Tampa Downtown located at 100 West Kennedy Blvd in Tampa, Florida.

JLL represented the buyer, Newbond Holdings, to secure the loan through the lender, CIM Group.

The Aloft Tampa Downton is one of only three hotels located on Tampa’s 2.6-mile Riverwalk in Downtown Tampa and is at the epicenter of Tampa’s downtown growth story. The hotel is located within walking distance of Water St., the Convention Center, Amalie Arena, Armature Works, The University of Tampa and Tampa General Hospital.

The JLL team was led by Hotels & Hospitality Group Americas CEO Kevin Davis and Managing Director Mark Fisher.

“The financing represents an endorsement of the Tampa hospitality market. Tampa has been one of the top three U.S. lodging markets in terms of RevPar growth between 2019 and Q1 2023 and the incredible market response to this financing is reflective of the capital markets sentiment around Tampa,” said Davis. “Strong population growth, corporate migration, significant development activity and the return of leisure and group travel have all contributed to making downtown Tampa one of the most dynamic hotel markets in the U.S.”

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

For more news, videos and research resources, please visit JLL’s newsroom.