Gencom and White Bridge Capital buy InterContinental Miami for about 300 million dollars

A joint venture between Gencom and White Bridge Capital has acquired the waterfront InterContinental Miami hotel for approximately 300 million dollars. Commercial Observer, Business Wire, HOTELSMag.com, and News-Press NOW all reported on the transaction, citing Bloomberg for the purchase price. [1][2][3][4]

The 34-story hotel is located at 100 Chopin Plaza, just off Biscayne Boulevard and south of the Brickell district, facing Biscayne Bay. The 465,000-square-foot property features 652 rooms, about 90,000 square feet of indoor and outdoor event space, and a rooftop pool, Commercial Observer reported. [1]

The property was built in 1983. China-based Dajia Insurance Group, which had owned the asset since 2005, recently renovated the hotel before the sale, according to Commercial Observer. [1]

Greater Downtown Miami serves as the urban core of Miami, Florida, and encompasses the Central Business District alongside Brickell, Wikipedia notes. The region is bordered to the east by Biscayne Bay. [5]