Gencom, White Bridge Buy InterContinental Miami for $300M

Miami-based Gencom, teamed with White Bridge Capital, has bought the InterContinental Miami at 100 Chopin Plaza for a reported $300 million, Connect CRE reported, citing a Bloomberg figure on the price. The seller is Strategic Hotels & Resorts, a unit of Dajia Insurance Group, the Chinese insurer that took over the portfolio after regulators seized its predecessor, Anbang Insurance Group, in 2018. Neither side has confirmed the price, Briefs reported; Gencom and White Bridge declined to discuss valuation.

Why it matters

A $300 million trade for a 1980s-vintage downtown tower is a read on where institutional sellers now think Miami hospitality values sit, and on how much capital is still willing to chase that asset class at scale. Dajia’s exit continues a slow wind-down of the Strategic portfolio it inherited in 2016, when Anbang bought it from Blackstone for $5.5 billion; Dajia sold three other Strategic hotels in 2022. For Gencom, the deal is its second InterContinental in less than a year, following its roughly $230 million purchase of the InterContinental New York Times Square with Argent Ventures and Highgate in December 2025, and its third hospitality deal alongside White Bridge in that stretch. Gencom already holds the Ritz-Carlton Key Biscayne and Ritz-Carlton Coconut Grove in South Florida, making this a bet on its home market as much as an opportunistic buy.

The numbers

The InterContinental Miami is a 34-story, 652-room hotel on Biscayne Bay in downtown Miami. It carries 35 meeting rooms and upward of 90,000 square feet combined of indoor and outdoor space for events, along with a rooftop pool, a spa and multiple restaurants. The reported $300 million price works out to roughly $460,000 per room. Gencom’s prior InterContinental buy, in New York, traded for a reported $230 million. This site reported in August that Gencom manages about $8 billion in hotel assets across 24 properties and more than 6,000 rooms under founder Karim Alibhai.

What’s next

Gencom and White Bridge plan to rework the hotel’s lobby and update its food and beverage offerings, according to Connect CRE, typical first moves ahead of a repositioning rather than a full redevelopment. Neither firm has disclosed financing or a renovation budget. The American Developer will track permit filings for any scope of work tied to the lobby and F&B overhaul, and watch whether Dajia moves to sell its remaining Strategic Hotels assets.