Newmark has arranged a $94.36 million refinancing for Hotel Cala, a 281-key hospitality property located in Downtown Tampa, Florida. The firm secured the loan on behalf of Newbond Holdings and Apollo, with financing provided by Bain Capital and Smith Hill Capital, identified as the Sponsor in the transaction. Newmark’s capital markets team on the assignment included Jordan Roeschlaub, Nick Scribani, Ricky Braha, Tyler Dumon and Tate Keir.
The seven-story hotel, formerly known as the Hotel Tampa Riverwalk, is positioned in Tampa’s Riverwalk District. The property offers direct waterfront access along the Hillsborough River and sits within walking distance of the city’s business, convention and entertainment destinations. Its location along the 2.6-mile Tampa Riverwalk connects the asset to a broader corridor of riverfront activity in Downtown Tampa.
As part of the new financing, the Sponsor is carrying out a comprehensive repositioning strategy for the hotel. Plans include a full renovation of the property and a rebranding to a luxury lifestyle hotel under Hilton’s Curio Collection flag. The program calls for upgraded guestrooms and meeting spaces, as well as enhanced amenities designed to align the property with its new brand positioning.
The renovation scope also includes a refreshed food and beverage offering. The Sponsor intends to introduce a flagship concept at the hotel, complementing its waterfront setting and proximity to convention and entertainment venues. These changes are aimed at elevating the asset’s competitive profile within the Downtown Tampa hospitality market.
Hotel Cala’s location directly overlooking the Hillsborough River and fronting the Tampa Riverwalk provides a riverfront setting that supports both leisure and business demand drivers. The combination of a sizable key count, waterfront access and adjacency to core business and convention activity positions the property as a prominent lodging option within the Riverwalk District.
The refinancing and repositioning initiative underscores continued investor and lender engagement with well-located Tampa hospitality assets. With a new capital structure in place and a defined renovation and rebranding plan, the Sponsor is advancing a strategy that seeks to align the hotel’s physical plant and brand identity with its downtown waterfront location.
