Keith Gelb Of Rockpoint Group Acquires Hotel From Neil Luthra And Marc Rowan For $95M

The hotel asset involved in this transaction is located at 725 South Harbour Island Boulevard in Tampa. The property comprises 309 keys, with a per key price of $307,443. The total sale price for the hotel was recorded at $95,000,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $95,000,000
• Buyer: Keith Gelb - Rockpoint Group
• Seller: Neil Luthra - Newbond Holdings; Marc Rowan - Apollo Global Management
• Lender: Ares Management
• Keys: 309
• PPK: $307,443

Rockpoint Group acquired the Westin Tampa Waterside from Apollo Global Management and Newbond Holdings, with Newbond retaining a minority stake in the property. The financing for the acquisition was secured from Ares Management, and the deal suggests a potential valuation above $500,000 per key for the hotel.