Newbond Holdings, a vertically integrated real estate investment and operating platform founded by Neil Luthra and Vann Avedisian, has announced the acquisition of the Westin Tampa Waterside hotel in partnership with investment funds managed by an affiliate of Apollo Global Management.
Newbond and the Apollo Funds acquired the 309-key trophy hotel asset, located in downtown Tampa, Fla., through a long-term direct relationship with the seller. Building on a recent $17 million renovation that left the property in outstanding physical condition, the Newbond/Apollo Funds’ joint venture will take advantage of the Westin Tampa Waterside’s central location as well as the broader resurgence of the Tampa market.
“In forming Newbond, we envisioned a best-in-class institutional investment platform focused on hotels and hospitality-related operating companies and technologies,” said Luthra. ”The Westin Tampa Waterside exemplifies our targeted hotel investments, bringin
