The joint venture, the team’s second Tampa, FL hotel investment, focuses on repositioning an irreplaceable waterfront asset in dynamic downtown Tampa.
NEW YORK, November 04, 2022--(BUSINESS WIRE)--Newbond Holdings, a vertically integrated real estate investment and operating platform, founded by Neil Luthra and Vann Avedisian, is proud to announce the acquisition of the Hotel Tampa Riverwalk, formerly known as the Sheraton Tampa Riverwalk Hotel, in partnership with investment funds managed by an affiliate of Apollo (NYSE: APO). Ownership has selected Schulte Hospitality Group to manage the hotel.
The 277-room property, located alongside the Hillsborough River and Riverwalk in downtown Tampa, was delivered unencumbered of the Sheraton flag and management, and has been rebranded as the Hotel Tampa Riverwalk. Ownership plans to implement a comprehensive renovation to guestrooms and public areas, as well as introduce a re-conceptualized waterfront restaurant, positioning the hotel to become downtown Tampa’s first premier urban waterfront destination.
The Hotel Tampa Riverwalk stretches across 200 feet of riverfront and features an expansive outdoor pool, waterfront dining, and 12,000 square feet of meeting space. It is the only hotel with direct access to the Riverwalk, a 2.6-mile pedestrian walkway that connects riverfront parks, restaurants, bars, museums, and businesses. Additionally, the hotel is located in the CBD, within walking distance of 10 million square feet of office space, the Tampa Convention Center, Amalie Arena, and Water Street Tampa, a transformational $3 billion, 53-acre redevelopment that has delivered 3,500 new residential units, an iconic cultural arts pavilion, 1 million square feet of retail and cultural spaces, and 2 million square feet of office space.
About Newbond Holdings
Newbond Holdings is a real estate investment and operating platform focused on debt and equity positions across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms. As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.
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