CBRE Hotels Arranges Sale and Financing of Tampa Bayfront Hotel

Bay Harbor hotel sold by Ben Mallah to Oxford Capital Group, LLC

Tampa, Florida – October 21, 2015 – CBRE Hotels arranged the sale of the 261-room Bay Harbor Hotel & Conference Center, a premier waterfront resort property situated on 6.69 acres in Rocky Point at 7700 West Courtney Campbell Causeway in Tampa, Florida. The former Radisson Hotel was acquired from Benjamin Mallah of Tampa by Chicago-based Oxford Capital Group, LLC. The CBRE Hotels team representing the seller included Lisa Zaranek and Robert Taylor. Marc Sallette of CBRE Hotels’ Debt & Structured Finance team arranged the financing. 

The Bay Harbor is a well-performing, full-service hotel with a choice waterfront location in one of the country’s top conference and resort destination markets. It recently benefitted from a $4.3 million renovation, but new ownership now has the opportunity to further upgrade, rebrand and inject new management into this beautiful bay front asset,” said CBRE Hotels’ Lisa Zaranek.

Built in 1974 and renovated from 2012 through 2014, the property encompasses a six-story hotel building and a free-standing, single-story restaurant, spanning a total of 173,596 sq. ft. Other amenities include three bars, beach volleyball and soccer, jet ski rentals, an outdoor stage, wooden pier and boat dock, heated outdoor pool, 24-hour fitness center, and gift shop.

North of I-275 and just west of State Road 589 and Tampa International Airport, the Bay Harbor Hotel & Conference Center occupies a prime waterfront location along Tampa Bay with unparalleled beach access and water views, as well as frontage along the Courtney Campbell Causeway. The resort is conveniently located in proximity to the Rocky Point and Westshore commercial demand generators and leisure attractions that include the International Plaza and Bay Street retail destinations. 

CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 375 dedicated hospitality professionals located in 60 offices across the globe. For more information, please visit our website at www.cbrehotels.com.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com