Gencom Splits Into Capital and Real Estate Units

Miami-based Gencom has split its hotel investment platform into two units, Gencom Capital and Gencom Real Estate, the company said. Founder and CEO Karim Alibhai keeps both under him, but each now has its own operating head for the first time.

Why it matters

Gencom Capital, led by Chief Investment Officer Alessandro Colantonio, takes capital markets, portfolio management and capital allocation. Gencom Real Estate, led by newly promoted President Donald McGregor, takes development, construction and asset management from acquisition through exit. For developers and brokers working South Florida hospitality, the split creates two clearer doors into Gencom instead of one: Colantonio’s side for capital formation and dispositions, McGregor’s for operating and repositioning the owned portfolio. Alibhai said the move “sharpens accountability” as the firm chases more deals. Splitting the functions out is also what a platform does right before it scales transaction volume, not after it slows down. Gencom’s Aug. 14 Ritz-Carlton Coconut Grove condo lawsuit, which The American Developer covered, now falls under McGregor’s asset-management mandate, giving the new structure an immediate live test in South Florida.

The numbers

Gencom manages roughly $8 billion in assets across 24 owned hotels totaling more than 6,000 rooms, under brands including Ritz-Carlton, Rosewood, Auberge Resorts Collection, Fairmont, Hyatt and Marriott. New managing directors under Colantonio include Ignasi Puig on acquisitions and investments, Peter Trujillo on corporate investments and Blythe Pierre-Louis on special situations. On McGregor’s side, Shaun Johnston was promoted to head of portfolio finance and accounting, and Jake Lynch joined as senior vice president of asset management.

What’s next

Watch which side of Gencom shows up on the next Miami hotel deal. If Colantonio’s team is sourcing new acquisitions while McGregor’s team works out the Coconut Grove dispute and other asset issues, the split will have done its job of running capital formation and operations in parallel rather than in sequence. The next earnings-relevant test is whether Gencom’s deal pace actually accelerates in the months after the reorganization.