Newmark Arranges $94 Million Financing for Repositioning of Landmark Tampa Riverwalk Hotel

April 27, 2026 9:00 AM

Newmark announces the Company has arranged a $94.36 million loan on behalf of Newbond Holdings and Apollo (collectively, the "Sponsor") to refinance Hotel Cala, a 281-key hospitality asset located in Downtown Tampa, Florida. The financing was provided by Bain Capital and Smith Hill Capital and was secured by Newmark Co-President, Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani, Senior Managing Director Ricky Braha, Managing Director Tyler Dumon and Associate Tate Keir.

Hotel Cala, formerly the Hotel Tampa Riverwalk, is a seven-story property positioned in the heart of Tampa's Riverwalk District, offering direct waterfront access and proximity to the city's premier business, convention and entertainment destinations. The Sponsor is executing a comprehensive repositioning strategy, including a full renovation and rebranding of the asset into a luxury lifestyle hotel under the Curio Collection flag, with upgraded guestrooms, meeting spaces and amenity offerings, including a flagship food and beverage concept.

The Hotel is located along the 2.6-mile Tampa Riverwalk, directly overlooking the Hillsborough River. Its highly accessible position offers seamless connectivity to the Riverwalk and places it within walking distance of numerous key demand drivers, including nearly 7 million square feet of Class A office space commanding the highest rental rates in the city, the 600,000-square-foot Tampa Convention Center, Benchmark International Arena, Tampa General Hospital, the University of Tampa and Cascade Investment's $3.5 billion Water Street development, which continues to elevate Downtown Tampa and attract both group and leisure demand.

About Bain Capital
Founded in 1984, Bain Capital is one of the world's leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,900 employees, and approximately $225 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Smith Hill Capital
Smith Hill Capital ("Smith Hill" or "SHC") is the fully integrated commercial real estate debt investment management business of the Procaccianti Companies (est. 1958). Smith Hill Capital was formed to invest in compelling commercial real estate debt opportunities that exist due to liquidity challenges and dislocation in commercial real estate financial markets. Smith Hill Capital is led by seasoned investment professionals who have multi-cycle investment experience and the tenured skill set to identify opportunities throughout the entire commercial real estate capital structure, spanning from securities to equity ownership. For more information, please visit www.smithhillcapital.com.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2025, Newmark generated revenues of nearly $3.3 billion. As of December 31, 2025, Newmark and its business partners together operated from approximately 175 offices with over 9,300 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.