Working with GB Key Biscayne Holdings, we were able to recapitalize the asset to allow for ongoing renovations and secure attractive current risk-adjusted returns with the potential for longer-term incremental value.” Michael Medzigian, CEO of the Carey Watermark Investors investment programs, said in a statement. “The combination of a high-quality asset in an unmatched location with the strength of The Ritz-Carlton brand represented a unique and attractive investment opportunity.”
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