Among
the noteworthy deals of the past week was Gencom’s reacquisition of the
Ritz-Carlton Coconut Grove in Miami.
MIAMI —
Gencom has acquired the 115-key Ritz-Carlton Coconut Grove in Miami from Hersha
Hospitality Trust for an undisclosed price.
A Gencom-led
joint venture originally acquired The Ritz-Carlton Coconut Grove in 2011 and,
in 2017, sold a majority stake in the property to Hersha for a reported $24.63
million. The new deal, in which Gencom took sole ownership, was financed by
Banco Inbursa.
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To download
our list of deals from the past week in Excel format, click here.
Deals of the
Week is a weekly feature by Hotel Investment Today that publishes in our Friday
newsletter. Click here for previous deal compilations from earlier weeks.