TAMPA, FLA. — Newmark has arranged a $94.4 million loan for the refinancing of Hotel Cala, formerly known as Hotel Tampa Riverwalk. The 281-room is located along the 2.6-mile Tampa Riverwalk overlooking the Hillsborough River in downtown Tampa.
Jordan Roeschlaub, Nick Scribani, Ricky Braha, Tyler Dumon and Tate Keir of Newmark arranged the financing through Bain Capital and Smith Hill Capital on behalf of the borrower, a partnership between Newbond Holdings and Apollo.
The ownership is executing a comprehensive repositioning strategy at Hotel Cala, including a full renovation and rebranding of the property into a luxury hotel under the Curio Collection flag. Renovations will include upgrades to guest rooms, meeting spaces and amenity offerings, including a flagship food-and-beverage concept. The construction timeline for the repositioning was not disclosed.