Newbond Holdings and Funds Managed by Apollo Global Management Acquire Hotel Tampa Riverwalk
Summary
NEW YORK, November 04, 2022--(BUSINESS WIRE)--Newbond Holdings, a vertically integrated real estate investment and operating platform, founded by Neil Luthra and Vann Avedisian, is proud to announce the acquisition of the Hotel Tampa Riverwalk, formerly known as the Sheraton Tampa Riverwalk Hotel, in partnership with investment funds managed by an affiliate of Apollo (NYSE: APO). It is the only hotel with direct access to the Riverwalk, a 2.6-mile pedestrian walkway that connects riverfront parks, restaurants, bars, museums, and businesses. Additionally, the hotel is located in the CBD, within walking distance of 10 million square feet of office space, the Tampa Convention Center, Amalie Arena, and Water Street Tampa, a transformational $3 billion, 53-acre redevelopment that has delivered 3,500 new residential units, an iconic cultural arts pavilion, 1 million square feet of retail and cultural spaces, and 2 million square feet of office space. Newbond Holdings is a real estate investment and operating platform focused on debt and equity positions across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms. As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.