Representatives of North America-based luxury hospitality real estate development firm Gencom announced that its affiliates in partnership with Private Equity Group (PEG) have sold the 295-room Marriott Grand Cayman Beach Resort to affiliates of London & Regional for an undisclosed sum.
The sale was brokered by CBRE´s Miami office, and the hotel will continue to be operated by Marriott International.
Located directly on Seven Mile Beach, the property is in one of the highest barrier to entry markets in the Caribbean.
Gencom was founded in 1987 by Karim Alibhai as a hospitality and residential-mixed use real estate investment and development firms, offering expertise in many distinct areas of the industry including finance and capital markets, asset management, design and development, M&A and equity management and residential sales & marketing.
Private Equity Group is a private equity fund based in Fort Myers, Florida. The company directs equity investments in land, operating businesses, land development, apartments, commercial property and residential master planned communities.
L&R is comprised of investors in real estate and specifically in the hotel sector. L&R´s hotel investments include Hilton hotels at Park Lane, Green Park and Trafalgar Square, as well as the Strand Palace, Marriott Marble Arch and the Cumberland Hotel in London.