Gencom, Fortune land $300M refi for Key Biscayne Grand Bay project

by Francisco Alvarado

Karim Alibhai’s Gencom and Edgardo DeFortuna’s Fortune International Group are teaming up to combine two Key Biscayne waterfront sites, consisting of a Ritz-Carlton hotel and a private beach club. The partnership, led by Miami-based Gencom, secured a $300 million loan from New York-based Blackstone to refinance existing debt, fund a $100 million renovation currently underway […]This article originally appeared on The Real Deal. Click here to read the full story.

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