Newbond Holdings And Apollo Close $65.8M Loan For Hotel In Downtown Tampa
200 North Ashley Drive, Tampa, Florida 33602, United States
$65,800,000
$277/SF
Building Size
237,286 SF
Asset Type
Hotel
Closing
Oct 30, 2022
About this deal
AI
Located at 200 N Ashley Dr in Downtown Tampa, this hotel property spans an area of 237,286 square feet. The transaction took place on October 31, 2022.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $65,800,000
- Market: Downtown Tampa
- Lender: Walton Street Capital - Jeff Quicksilver
- Landlord: Newbond Holdings - Neil Luthra; Apollo - Mark Rowan
- Brokers: Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, and Tyler Dumon - Newmark
- Loan Type: Acquisition
The loan for this acquisition was provided by Walton Street Capital, with Jeff Quicksilver representing the lender. On the landlord side, Newbond Holdings, represented by Neil Luthra, and Apollo, represented by Mark Rowan, were involved in the transaction. The brokers involved in this deal were Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Chris Kramer, and Tyler Dumon of Newmark.
Players
Tampa Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93