Gencom, a Miami-based investment firm, has acquired the 42-story Thompson Central Park hotel in New York City’s Billionaires’ Row. The purchase price for this prime location was reportedly over $300 million, making it Gencom’s first venture into the NYC market.
The financing for this acquisition was provided by Ramsfield Hospitality Finance affiliates as well as Affinius Capital and AB CarVal. Eastdil Secured acted as both the seller’s representative and assisted Gencom in securing financing for the deal.
According to Alessandro Colantonio, Chief Investment Officer of Gencom, acquiring Thompson Central Park is a significant step towards their goal of obtaining top-tier hotel assets in key U.S. markets. This addition to their portfolio further solidifies their position as owners of premier hotels and resorts around the world.
This transaction also marks Gencom’s first partnership with Thompson Hotels brand within its growing hospitality portfolio which includes other renowned brands such as The Ritz-Carlton, Four Seasons Hotels and Resorts, St.Regis,Rosewood,and Andaz among others. With this latest acquisition under its belt,Gemcon is poised to make an even bigger impact on New York City’s thriving hospitality industry.
