Newbond Holdings acquires Waterstone Resort & Marina Boca Raton

NEW YORK–(COMMERCIAL THREAD) – Newbond Holdings, a vertically integrated real estate investment and operating platform founded by Neil Luthra and Vann Avedisian, has announced the acquisition of Waterstone Resort & Marina Boca Raton. The transaction marks Newbond’s second hotel investment in Florida after the company officially launched earlier in the year.

Newbond acquired the 139-key hotel in an off-market transaction. The Waterstone Resort & Marina is located in the heart of Boca Raton, offering picturesque views of the Intercoastal and the Atlantic Ocean as well as immediate access to the city’s world-class beaches and many upscale attractions. With over 8,000 square feet of meeting space, two waterfront restaurants and a marina, the Waterstone Resort & Marina is ideally placed to benefit from the various demand drivers in the Boca market, including passing travelers and business travelers.

“The Waterstone ticks a lot of boxes for our platform as an opportunity to acquire a waterfront hotel in a supply-constrained market where growing business demand will complement the strong leisure demand already in place,” said Mr. Avedisian.

“We have been drawn to Boca Raton and South Florida in general, by the never-ending flow of families and businesses entering this market,” Luthra added. “The Waterstone is particularly well positioned in its competitive environment in the Boca Raton market. We are making a few select enhancements to ensure that the Waterstone will be able to capture a disproportionate share of future market growth. ”

The newly renovated Waterstone Resort & Marina will also benefit from its proximity to world-class Boca Resort, currently undergoing a full $ 200 million transformation, which should strengthen the overall market performance.

Palm Beach County and South Florida have seen extraordinary growth in leisure travel and corporate office locations that only accelerated due to the pandemic. South Florida has been a major recipient of inbound migration from residents of the northern states and the Midwest. Recent corporate announcements have been made by leading companies such as Blackstone Group, Citadel, Digital Bridge Realty Trust, Microsoft, JP Morgan, Payless, Nucleus Research, Boston Private as well as numerous hedge funds, private equity firms risk and fund managers.

In September, a partnership with Newbond acquired the Westin Tampa Waterside Hotel, a 309-key waterfront property located in downtown Tampa. Newbond also recently announced a $ 500 million lending platform with Madison Realty Capital that will focus on making and purchasing home loans in all major US markets.

About Newbond Holdings

Newbond Holdings is a real estate investment and operating platform focused on debt and equity positions in multiple types of real estate products with a focus on hospitality as well as investments in operating activities and related technology platforms. As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and branding of assets. unique and multiple.


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