TAMPA — The Westin Tampa Bay has been sold to a Nashville-based firm.
Castlerock Asset Management declined to say what it paid for the 16-story, 244-room hotel at 7627 W Courtney Campbell Causeway. No deed had been recorded as of Tuesday.
Opened in 2009 in Rocky Point, a lodging, office and residential area within the Westshore Business District, the four-star Westin Tampa Bay is among the newest full-service hotels in the upper tier of Tampa's hospitality market. The seller, Impact Properties, developed the hotel and has been its sole owner.
"Castlerock is investing in a high-quality, branded asset in an irreplaceable waterfront location,'' said Nick Plasencia, managing director of Tampa's Plasencia Group, which advised Impact in the off-market transaction. "The Tampa Bay area, and Tampa in particular, is going through a transformative growth period, and we continue to experience an unprecedented, high level of interest in the market from high-caliber ownership groups such as Castlerock.''
Castlerock, a privately held real estate development and asset management firm, also owns two hotels in Nashville — a Westin and the retro-style Bobby Hotel — as well as a Nashville steakhouse.
The only other Westin in the Tampa Bay area is the 299-room Westin Waterside Harbour Island but that is under different ownership. It last sold in 2016 for $42.35 million.
Contact Susan Taylor Martin at firstname.lastname@example.org or (727) 893-8642. Follow @susanskate.