Rockpoint and Newbond Holdings Acquire the Westin Tampa Waterside

BOSTON, Sept. 15, 2025 /PRNewswire/ -- Rockpoint, a Boston-based real estate private equity firm, and Newbond Holdings, a real estate investment and operating platform, today announced the acquisition of the Westin Tampa Waterside, the only hotel located on Harbour Island in Tampa, Florida. Financial terms of the transaction were not disclosed.

The 1.5-acre property is situated within the heart of downtown Tampa's vibrant waterfront community within walking distance of the Tampa Convention Center, Water Street District, Sparkman Wharf and the University of Tampa, and close to the Tampa Riverwalk. The hotel is also a short drive from Tampa International Airport, Port Tampa Bay and Raymond James Stadium.

"We believe the Tampa market continues to exhibit strong economic indicators overall, and has diverse demand drivers driven by tourism, conventions, local employers, colleges, and nearby sports venues," said Dan Domb, Managing Member and COO at Rockpoint. "With limited new competitive supply in the market, and the long-standing reputation of Marriott's Westin brand, we are excited to lead this next chapter of ownership of the Westin Tampa Waterside."

The Westin Tampa Waterside has been a destination for travelers visiting the city for more than four decades. The property's 309 guestrooms feature panoramic views of downtown Tampa, and guests can enjoy an expansive fitness studio, heated outdoor pool, multiple dining and bar options, and meeting and social event space. This investment includes plans to renovate guest rooms, as well as the hotel's lobby and meeting space.

"Since our prior initial acquisition of the property we've experienced exceptional demand in the downtown Tampa hotel market," said Neil Luthra, Founding Partner of Newbond Holdings. "We are excited to implement our new business plan and build on the property's success with the Rockpoint team, whom we have known for a long time."

About Rockpoint

Rockpoint is a Boston-based real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, and targets investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm's co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 512 transactions with a total peak capitalization of approximately $82 billion. Rockhill, Rockpoint's property services affiliate, serves commercial and residential properties in select markets throughout the United States. To learn more, visit www.rockpoint.com. 

About Newbond Holdings

Newbond Holdings ("Newbond") is a real estate investment and operating platform focusing on hospitality and multifamily assets, as well as investments in related operating businesses and technology platforms. Founded by Neil Luthra and Vann Avedisian, the firm's leadership team leverages its front-line operating experience, industry-leading investment track record, and trusted relationships to maximize returns for its partners. The Newbond team was strategically assembled from leaders with an entrepreneurial mindset and a deep understanding of the hospitality and real estate sectors. Newbond's portfolio consists of 15+ hotels comprising 6,000 keys and $1.0B+ in asset-managed revenue.

Contacts

Rockpoint
Sarah Salky / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
[email protected]

SOURCE Rockpoint Group, L.L.C.