Gencom Recaptures Majority Ownership of Ritz-Carlton Key Biscayne in $400M Deal

Miami-based Gencom has once again claimed majority ownership of the prestigious 291-key Ritz-Carlton Key Biscayne from Toronto-based Brookfield Asset Management. The exact price remains undisclosed, but industry experts estimate it to be well over $400 million. Recognizing the immense potential, Gencom has ambitious plans for the property, earmarking $100 million for an extensive renovation which will be completed in 2025. In a strategic financing move, Citigroup and KSL Capital Partners have provided the necessary funds for this exciting enterprise.

In an intriguing twist of fate, this illustrious property returns to the Gencom portfolio after a brief hiatus. Back in 2000, as part of a larger $750 million deal, Gencom sold the Ritz-Carlton Key Biscayne to a private REIT. Now, with renewed vision and investment, Gencom is ready to revitalize and reimagine this iconic destination. Set against the breathtaking backdrop of Key Biscayne, the renovated Ritz-Carlton will undoubtedly emerge as a pinnacle of luxury and refined hospitality.

A Jewel of Luxury and Opulence

Nestled among lush landscapes and boasting grandeur in every corner, stands a magnificent 13-story resort sprawling across an impressive 275,000 square feet. This illustrious hotel is a haven where dreams transform into vivid reality, where every step promises a captivating experience.

A Paradise for the Discerning Traveler

Get ready to immerse yourself in a world of ultimate luxury and serenity. This exceptional property offers an unrivaled experience with a range of amenities that will leave you breathless. Imagine yourself relaxing by multiple sparkling swimming pools, indulging in luxurious spa treatments, or playing a thrilling game of tennis at the state-of-the-art tennis center. With a vibrant club lounge, six diverse dining options, and 37,000 square feet of versatile meeting and event space, this destination caters to every whim and desire.

Located on the stunning Key Biscayne Beach, this 17-acre paradise showcases 188 condo-hotel units, ensuring that each guest enjoys their own slice of coastal bliss. The property not only provides convenient beachfront access, spanning an impressive 1,000 feet, but it also sets the stage for an unforgettable escape.

Whether you are seeking a rejuvenating wellness retreat, an unforgettable corporate event, or simply a luxurious getaway, this striking property offers it all. Indulge in the finer things in life and create memories that will last a lifetime.