Among
the noteworthy deals of the past week was a joint venture’s acquisition of the
Westin Tampa Waterside in Florida.
TAMPA, Florida —A joint venture between Boston-based Rockpoint and New
York City-based Newbond Holdings has acquired for an undisclosed amount the 309-key Westin Tampa
Waterside with New York City-based Apollo Global Management selling its share. Newbond
Holdings was part of the previous ownership group with Apollo.
The sellers were said to be exploring a sale in 2023 for $250 million, but
a deal never happened.
This is the only hotel located on Harbour Island in Tampa, Florida.
The new owners plan to renovate guest rooms, as well as the hotel’s lobby
and meeting space.
"Since our prior initial acquisition of the property we've
experienced exceptional demand in the downtown Tampa hotel market," Neil
Luthra, founding partner of Newbond Holdings, said in a news release. "We
are excited to implement our new business plan and build on the property's
success with the Rockpoint team, whom we have known for a long time."
To download
our list of deals from the past week in Excel format, click here.