The Real Deal Miami

Karim Alibhai acquires Ritz-Carlton Ft. Lauderdale

Alibhai's Gencom has developed a number of Ritz-Carlton hotels under its flag
July 24, 2013 10:00AM

Karim Alibhai

Karim Alibhai

Miami-based investor Karim Alibhai partnered with Invesco to acquire the Ritz-Carlton Fort Lauderdale for nearly $66 million, Daily Business Review reported, citing Broward County records.

RCFL Investor LLC, of which Alibhai is president, obtained a $45.13 million loan from a group of lenders managed by SunTrust Bank for the oceanfront 166-room hotel and 28 condominium-hotel units at 1 N. Fort Lauderdale Beach Blvd., the Review reported.

Alibhai helms Miami-based hotel and resort developer Gencom, which has built a number of projects under the Ritz-Carlton flag. [Daily Business Review]Emily Schmall