Among
the noteworthy deals of the past week is Gencom reacquiring the Ritz-Carlton in
Key Biscayne, Florida.
KEY BISCAYNE, Florida — Miami-based Gencom has retaken
majority ownership of the 291-key Ritz-Carlson Key Biscayne from Toronto-based
Brookfield Asset Management for an undisclosed price.
Gencom plans a $100 million renovation to the property and
will reposition the asset in 2025. The transaction was financed by Citigroup
and KSL Capital Partners.
Gencom previously sold two-thirds of its stake
in the hotel to Carey Watermark Investors in 2015 for $325 million. Brookfield
assumed that stake two years ago when it bought Carey Watermark Investors.
To download our list of deals from the past week in Excel format, click here.