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| Westin Tampa Harbour Island Hotel, 725 South Harbour Island Boulevard, Harbour Island, FL |
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| Daniel C. Peek |
TAMPA, FL - – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged
acquisition financing for the Westin
Tampa Harbour Island, a 299-room, full-service hotel located along downtown
Tampa’s waterfront on Harbour Island.
HFF marketed the property
on behalf of the seller and completed the sale to affiliates of Walton Street
Capital, which acquired the 100-percent fee-simple interest in the
property.
HEI Hotels & Resorts
will manage the property. Additionally,
on behalf of the new owner, HFF placed the floating-rate acquisition loan with
a banking and financial services holding company.
Opened in 1987, the
centrally-located hotel features 299 guest rooms, which includes 19 suites. The
property’s amenity package contains 17,432 square feet of meeting space, a
heated outdoor pool, WestinWORKOUT Fitness Studio and sweeping water views.
Located at 725 South Harbour Island Boulevard, the hotel is proximate to an
abundance of transient and corporate demand generators, which provide a base
for healthy year-round operating fundamentals, including downtown Tampa, Amalie
Arena, Florida Aquarium, historic Ybor City, the Channel District and numerous
museums and sporting venues.
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| Alexandra Lalos |
Most notable, the hotel is
adjacent to the Tampa Convention Center and the planned $2 billion, six
million-square-foot, mixed-use office, retail and multi-housing development
being executed by Strategic Property Partners.
The HFF investment sales
team representing the seller was led by senior managing director and head of
HFF’s hotel group Daniel C. Peek and
associate directors Preston Reid and
Alexandra Lalos.
The HFF debt placement
team representing the borrower was led by managing director Michael Weinberg.
“The Westin provides
further evidence to the robust investor demand for hospitality assets in the
Tampa Bay market,” Peek said.
“Like
several markets in the Southeastern U.S., Tampa’s economic expansion continues
to be strong, perhaps best reflected in the performance of the region’s hotel
sector over the past 24 months”.
“The Tampa hospitality
market continues to attract high-quality institutional interest from groups
like Walton Street Capital,” Reid added.
“With relatively muted new supply, a robust convention calendar and
marquis events such as the 2017 College Football Playoff National Championship,
on the horizon, the market shows little signs of slowing.”
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| Preston Reid |
“This is the third hotel financing we have arranged this year on trophy assets in downtown Tampa and downtown Orlando totaling nearly $175 million,” Weinberg stated.
“The interest was strong from debt capital
providers for all three despite the tightening of hospitality financing that is
occurring nationally.”
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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