The property involved in the transaction is a resort asset located at 425 Grand Bay Drive in Key Biscayne, encompassing 2.4 acres. The sale price for the property was $20,000,000. The total square footage of the resort is 14,463, which translates to a price per square foot of $1,383.

Summary of transaction details:

• Property Type: Resort
• Transaction Amount: $20,000,000
• Address: 425 Grand Bay Drive
• Market: Key Biscayne
• Acres: 2.4
• Square Footage: 14,463
• Price per Square Foot: $1,383
• Buyer: Karim Alibhai - Gencom
• Seller: Edgardo Defortuna - Fortune International Group
• Lender: Goldman Sachs & Banco Inbursa

The transaction was orchestrated by Karim Alibhai representing Gencom, while Edgardo Defortuna represented Fortune International Group in the sale. The property acquisition was part of a larger financial strategy, as it was added as collateral under a $47.38 million loan associated with a major renovation of the nearby Ritz-Carlton hotel owned by Gencom.