(Carl Cronan is editor of RealEstateFlorida.)
MIAMI-Locally based Gencom Group has sold a portfolio of sixHyatt Summerfield Suites hotels to RLJ Real Estate Fund III LP.Gencom owned the hotels in partnership with Lehman Bros. RealEstate Partners. Prices and locations of the hotels involved werenot immediately disclosed.
"The sale is consistent with our original business plan ofidentifying, repositioning and disposing of assets at significantreturns," Karim Alibhai, founder and principal of Gencom Group,stated in a release. Gencom Group is an international investmentand development firm specializing in hospitality and residentialreal estate sectors, with luxury and mixed-use projects under waytotaling more than $6 billion.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
