Ally Capital Group Buys 325-Room Westshore Grand Hotel in Tampa

Ally Capital Group and Black Diamond Capital have acquired the Westshore Grand, a 325-room hotel at 4860 W. Kennedy Blvd in Tampa's Westshore district. The partners plan a phased renovation of the 11-story property.

Built in 1984, the hotel operates under Marriott's Tribute Portfolio brand and includes 14,321 square feet of meeting and event space, a rooftop pool, a fitness center, and an attached parking garage.

Renovations will run in phases through 2027 and 2028. The purchase price was not disclosed. No construction start date, general contractor, or budget has been announced. Valley National Bank was the acquisition lender. Hodges Ward Elliott, a Franklin Street company, arranged the financing.

The deal adds to Ally's Westshore holdings. The firm owns the neighboring Urban Centre I and II office towers, acquired for $123 million in 2023. The hotel sits across from the 53-acre WestShore Plaza, where a mixed-use redevelopment is proposed.