Downtown Tampa hotel owner borrows $38M

Newbond Holdings, the owners of the Aloft Tampa Downtown hotel, have refinanced the property at the gateway to the city’s downtown for $38 million — just two years shy after buying it.

The loan, a five-year, floating-rate refinancing, was announced by JLL Hotels & Hospitality Group, which says the money comes from affiliates of New York-based Fortress Investment Group.

A spokesperson for JLL would not disclose how much Newbond borrowed, writing in an email that “I cannot share the amount.”

Hillsborough County records, however, show a mortgage on the property at 100 W. Kennedy Blvd. was taken out by Newbond for the $38 million May 13. 

Newbond bought the 130-room hotel in August 2023 and secured a $29.6 million in acquisition financing at the time.

The hotel, which was once the Mercantile Bank office building and sits just as you cross the Hillsborough River into downtown, first opened in 2014 after a $20 million renovation. JLL says the hotel has two food and beverage outlets, an outdoor pool and deck overlooking the river, a 738-square-foot meeting room, a gym and on-site valet parking.

New York-based Newbond also owns two nearby hotel properties, the Westin Tampa Waterside and the Hotel Tampa Riverwalk.

The JLL team that worked on the refinancing package was led Kevin Davis, Mark Fisher, Jillian Mariutti and Wyatt Krapf and Martha Duff.