Jeff Vinik closes on Marriott Waterside for $150 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 2, 2014

For a $150 million price tag, Tampa Bay Lightning owner Jeff Vinik now owns the Tampa Marriott Waterside Hotel and Marina.

Vinik's real estate holding company, Strategic Property Partners, closed on the 719-room downtown convention hotel on Oct. 1, according to a Hillsborough County deed filed Thursday. The deal appears to have been a cash transaction, as a mortgage has not been filed.

The Tampa Bay Business Journal was first to report on Sept. 23 that Vinik was looking to buy the hotel. Built in 2000, the Marriott is the city's convention hotel, with 50,000 square feet of meeting space.

Vinik's desire to control a hotel in downtown Tampa has been clear for months.

The city has signed off on his plans for a combination hotel-condominium project at the corner of Old Water Street and Florida Avenue, which is across the street from the Marriott Waterside.

"SPP is excited to acquire this centerpiece downtown property, further advancing our plans for the development of America's next great urban waterfront district, right here in Tampa,” Vinik said in a written statement.

Vinik holds the ground lease to Channelside Bay Plaza and owns about 25 acres in downtown Tampa and the Channel district. Last week, Lightning President Tod Leiweke shed a bit more light on Vinik's plans for the area: He's brought in Cascade Investments, which is controlled by Microsoft founder Bill Gates, as a partner on what could be a "billion-dollar" deal. The real estate team put in place - which includes Tampa real estate veteran Bob Abberger- is working on the master plan for the area that will open it up to the water and include residential, retail and commercial components.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.