Downtown Tampa Hilton Changes Hands
- May 06, 2019
Walton Street Capital has purchased Hilton Tampa Downtown, a 520-key, full-service property in downtown Tampa, Fla. HFF worked on behalf of the seller, CrossHarbor Capital Partners, and secured the acquisition loan for the buyer.
Located at 211 N. Tampa St., the hotel is close to University of Tampa, Amalie Arena, Tampa General Hospital, the Florida Aquarium and the Port Tampa Cruise Terminal. The property is also within walking distance of Water Street, a $3 billion, 50-acre mixed-use office, retail and residential project now under construction.
Built in 1982 on a 2-acre parcel and fully renovated in 2013, Hilton Tampa Downtown switched from Hyatt to Hilton after the overhaul. The 18-story hotel also underwent a multimillion-dollar investment program completed in 2017. The property’s list of amenities includes a rooftop pool, fitness center, executive lounge, business center, 30,000 square feet of meeting space and three food and beverage options.
Daniel Peek, senior managing director & head of the HFF hotel group, together with Senior Director Preston Reid and Director Wyatt Krapf, represented the seller. Senior Managing Director Michael Weinberg led the debt placement team.
“Tampa is no longer an up-and-coming city – it’s here,” said Reid in prepared remarks. “The amount of investment from world-class, institutional investors continues to pour in for well-positioned, quality assets like the Hilton Tampa Downtown.”
Two weeks ago, HFF arranged $360 million in financing for a Four Seasons mixed-use project in Nashville. Construction on that development is scheduled to begin in the second quarter of 2019.