Gencom, White Bridge buy InterContinental hotel in downtown Miami for $300M

Karim Alibhai’s Gencom and White Bridge Capital partnered on a nine-figure acquisition of the InterContinental Miami high-rise hotel in downtown Miami, their third joint hotel deal in the past year.  The Miami-based firms bought the 34-story, 652-room waterfront hotel overlooking Biscayne Bay at 100 Chopin Plaza from the Chinese Dajia Insurance Group’s Strategic Hotels & Resorts, Bloomberg reported. A spokesperson for the buyers confirmed the sale but did not disclose the seller or sale price. The price was reported as $300 million by Bloomberg, citing an anonymous source. The deal works out to $460,123 per key — 9 percent above […]

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