Newbond Holdings Secures $29.6M Loan From CIM Group For Aloft Tampa Downtown Hotel Acquisition

Newbond Holdings, led by Neil Luthra, has secured a $29.6 million loan from CIM Group for the acquisition and renovation of the Aloft Tampa Downtown hotel in Tampa Bay. The hotel, located at 100 West Kennedy Boulevard, features 130 keys and is situated in a dynamic hotel market within Downtown Tampa. The decision to pursue this investment was driven by Tampa Bay's robust hospitality market, which has been fueled by population growth, corporate migration, and increased leisure and group travel.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $29,600,000
• Address: 100 West Kennedy Boulevard - Aloft Tampa Downtown
• Market: Tampa
• Keys: 130
• Lender: CIM Group
• Landlord: Newbond Holdings - Neil Luthra
• Brokers: Kevin Davis & Mark Fisher - JLL

The deal was facilitated by brokers Kevin Davis and Mark Fisher from JLL, who played a crucial role in connecting Newbond Holdings with CIM Group. Their expertise and negotiation skills ensured the successful acquisition loan for Newbond Holdings. This transaction exemplifies the confidence in Tampa Bay's hospitality market and highlights the potential for growth and success in the region.