Tampa hotel sold for $30 million

TAMPA — Pharos CB Hospitality LLC purchased the Aloft Tampa Downtown Hotel from Liberty Tampa Investments LLC for $30 million.

Pharos' acquisition of the upscale hotel is partially due to the high-growth market in Tampa, says senior founding partner J. Edward Watson in a statement. Aloft's global brand was also a contributing factor.

The hotel, on Tampa Riverwalk in the center of downtown, has 130 loft-like rooms, corporate meeting space and a signature bar, the statement adds. It is within walking distance of the Tampa Convention Center, the Florida Aquarium and the Amalie Arena.

Pharos CB Hospitality is a hotelier with offices in New York City and Charlotte, N.C. The company owns, develops and operates upscale hotels throughout the country.

Tampa-based Liberty Group is one the leading hotel development firms in the region. CEO Punit Shah was one of the Business Observer's Entrepreneurs of the Year for 2015.