Caspers Company buys The Current hotel on Rocky Point

By: American Momentum Bank
 
TAMPA, Fla. - Jan. 4, 2022 - PRLog -- Current Rocky Point LLC, a special purpose entity affiliated with Tampa-based Caspers Company, has purchased The Current hotel, an Autograph Collection hotel by Marriott, at 2545 N Rocky Point Dr. for $85 million.

This marks the first hotel acquisition for the Casper family, which owns 60 McDonald's franchises, as well as Tampa Bay restaurant and business concepts: Oxford Exchange, Oxford Design Studio, The Library, Caspers Service Company and most recently, a private social club The Stovall House.

Dave Weymer, Michael Weinberg, Preston Reid and Wyatt Krapf of Berkadia Hotels & Hospitality represented the seller, Rocky Point Holdings LLC, in the transaction. American Momentum Bank is providing part of the financing with a $55 million loan.

"The Caspers are a venerable family in this community and continue to introduce unique, upscale concepts to Tampa Bay," said Porter Smith, Tampa Bay Market President of American Momentum Bank. "Our team is proud to play a role in this monumental real estate transaction of the Caspers' first hotel purchase."

Construction of The Current Hotel was completed in 2019. The property includes 180 rooms, two restaurants – Julian Restaurant and Rox Rooftop Bar, Tampa's highest rooftop bar – and a lobby bar. It also features waterfront views from every guestroom, a private beach, an infinity pool and proximity to Tampa International Airport.

Caspers Company is a third-generation family-owned business run by Blake Casper, along with his sister Allison Casper Adams and her husband, Robby Adams.

Blake Casper says, "We are excited to add The Current Hotel to our Oxford Commons portfolio of Hospitality Concepts. We are equally excited to partner with the Lifsey Family, Pinnacle Management, and American Momentum. The Current Hotel combines beautiful design, the best views of Tampa Bay, with outstanding hospitality. Come check us out!"

American Momentum Bank has been involved with the Current project since its inception. The bank helped fund development of the property with a construction loan that closed in 2017.

About American Momentum Bank

American Momentum Bank, a Texas-chartered banking association with total assets of $2.7 billion as of Sept. 30, 2021, provides comprehensive products and services for businesses and individuals. American Momentum Bank has 18 full-service banking centers in Texas and nine full-service banking centers in Florida. American Momentum Bank's strong capitalization, superior asset quality and experienced management teams position it as one of the premier banks in each state. Visit www.americanmomentum.bank to learn more.

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Tags:Commercial Real Estate
Industry:Banking
Location:Tampa - Florida - United States
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