JLL's Hotels & Hospitality Group arranged a refinancing for the Aloft Tampa Downtown, a 130-key hotel located in the heart of Tampa's urban core. JLL worked on behalf of Newbond Holdings to secure a five-year, floating-rate loan provided by funds managed by affiliates of Fortress Investment Group.
The Aloft Tampa Downtown is strategically located at the corner of Kennedy Boulevard and the Tampa Riverwalk. The hotel is within walking distance of key attractions such as Water Street, the Convention Center, Amalie Arena, Armature Works, The University of Tampa and Tampa General Hospital.
Originally constructed in 1965 as a bank branch, the nine-story building was converted into a hotel in 2014. The hotel has 130 rooms, two food and beverage outlets (bar and breakfast), a large lobby with ample natural light, an outdoor pool and deck overlooking the Hillsborough River, a 738-square-foot meeting room, a well-equipped gym and on-site valet parking.
The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, Managing Director Mark Fisher, Senior Directors Jillian Mariutti and Wyatt Krapf and Analyst Martha Duff.
"This refinancing recognizes Aloft Tampa Downtown's exceptional performance and Newbond Holdings' strategic improvements," Davis said in a statement. "The hotel's RevPAR consistently outperforms its competitive set, and this new financing will enable the sponsor to further capitalize on Tampa's dynamic market, driven by record population growth and corporate investment."