BlackPearl Hospitality has acquired the 291-key full-service DoubleTree by Hilton Tampa Rocky Point Waterfront for $76 million or $261,168 per key. Originally built in 1986, the hotel recently underwent a $17.9 million renovation. The hotel sits on 4.34 waterfront acres on Tampa’s Rocky Point peninsula, a short drive to Tampa International Airport, Raymond James Stadium and the Westshore business district.
Walker & Dunlop’s N.Y. Capital Markets team acted as advisors on behalf of BlackPearl, facilitating the off-market sale and financing of the property
“The hotel industry is a $3 trillion asset class within commercial real estate. Hospitality has become an increasingly attractive investment opportunity, and attention to the sector has heightened under the financial adjustments caused by the worldwide pandemic,” Sean Reimer, managing director of Walker & Dunlop’s NY Capital Markets team, said in a statement. “We are thrilled to play a role in this project with this unique property as well as work with our trusted partners at BlackPearl.”
“Walker & Dunlop’s hospitality finance experts were very helpful in the advisory process,” said Michael Tacorian at BlackPearl. “Given the hotel’s premier location, brand flag, and market positioning, it is poised to capture a major share of demand in the area. We look forward to watching this property serve its community for years to come.”