Newmark announced that the company has arranged a $94.36 million loan on behalf of Newbond Holdings and Apollo (collectively, the “Sponsor”) to refinance Hotel Cala, a 281-key property in downtown Tampa, Florida. The financing was provided by Bain Capital and Smith Hill Capital and was secured by Newmark Co-President, Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani, Senior Managing Director Ricky Braha, Managing Director Tyler Dumon, and Associate Tate Keir.
Hotel Cala, formerly the Hotel Tampa Riverwalk, is a seven-story property positioned in Tampa’s Riverwalk District, offering direct waterfront access and proximity to the city’s premier business, convention, and entertainment destinations. The Sponsor is executing a comprehensive repositioning strategy, including a full renovation and rebranding of the asset into a luxury lifestyle hotel under the Curio Collection flag, with upgraded guestrooms, meeting spaces, and amenity offerings, including a food and beverage concept.
Property Details
The hotel is located along the Tampa Riverwalk, directly overlooking the Hillsborough River. Its accessible position offers connectivity to the Riverwalk and places it within walking distance of numerous key demand drivers, including the Tampa Convention Center, Benchmark International Arena, Tampa General Hospital, the University of Tampa, and Cascade Investment’s $3.5 billion Water Street development.
