Tampa hotel owners borrow $94 million in refinance

Newbound Holdings and Apollo Global Real Estate Management, the owners of a downtown Tampa hotel, have refinanced the property for $94.36 million.

The seven-story, 281-room property on the city’s Riverwalk is the Hotel Cala. 

Courtesy image

Bain Capital and Smith Hill Capital are the lenders. Terms were not disclosed.

The Newmark Group, which arranged and announced the loan, says the money will go toward repositioning the property, which includes a full renovation and putting it under the Curio Collection by Hilton flag. (The Curio Collection is made up upscale independent hotel properties.)

The work, Newmark says in a statement, will include upgrading guestrooms, meeting spaces and amenity offerings, as well as a flagship food and beverage concept.

Newbound and Apollo bought the then Hotel Tampa Riverwalk in 2022 for $45 million according to Hillsborough County property records.

Newmark’s Jordan Roeschlaub, Nick Scribani, Ricky Braha, Tyler Dumon and Tate Keir secured the financing.