Gencom-Led Joint Venture Secures $125 Million Refinancing for The St. Regis Chicago

MIAMI – April 27, 2026 – A joint venture led by Gencom, in partnership with GD Holdings, both privately held, internationally recognized owners, developers and managers of hospitality and residential projects, announced today that it has secured a $125 million refinancing for the 192-key The St. Regis Chicago, a luxury hospitality asset located in Chicago’s Lakeshore East Loop neighborhood at the confluence of the Chicago River and Lake Michigan.

The financing was arranged with Banco Inbursa, a leading international financial institution with a strong track record in financing hospitality and commercial real estate assets. The new loan replaces $76 million in original acquisition financing provided by Varde Partners.

Since opening in 2023, when Gencom and GD Holdings acquired the property, The St. Regis Chicago has established itself as one of the city’s premier luxury offerings, supported by limited new high-end supply in downtown Chicago and sustained demand across group, corporate and leisure segments.

“The refinancing secured with Banco Inbursa reflects the strong operational performance and market positioning the St. Regis Chicago has achieved since our acquisition three years ago,” said Karim Alibhai, Founder and Principal of Gencom. “As the first luxury hotel to open in downtown in over a decade, the property has resonated with both business and leisure travelers, as well as the local community, reinforcing our conviction in the Chicago market’s long-term fundamentals.”

The transaction marks the fourth financing Gencom has completed with Banco Inbursa, further strengthening their established relationship.

“This successful refinancing of the St. Regis Chicago underscores our ability to drive value through operational execution and strategic asset management, while reinforcing our confidence in the hotel’s continued performance,” said Alessandro Colantonio, Chief Investment Officer at Gencom. “It also represents an important expansion of our partnership with Banco Inbursa as we continue to access global capital sources across both asset acquisitions and refinancings.”

“We believe The St. Regis Chicago is one of the most compelling luxury hospitality assets in the country. This refinancing positions us to continue executing at a high level while unlocking the full potential of the property over the long term,” said Abraham Marcos, Principal of GD Holdings.

Gencom & GD Holdings were represented in the transaction by Stearns Weaver Miller as its legal counsel, while Banco Inbursa was advised by Gibson Dunn.

The five-star hotel occupies the first 11 floors of a striking, three-tower, mixed-use development integrating a luxury hotel with branded residences. The tallest tower rises 101 stories, making it the third-tallest building in Chicago. In addition to the hotel’s spacious guestrooms and suites, it features approximately 12,000 square feet of meeting and event space, including the 5,000-square-foot Astor Ballroom and 7,000 square feet of executive function rooms, many of which offer sweeping views of the city’s most iconic landmarks, including the Magnificent Mile, Navy Pier, Grant Park and Millennium Park. The hotel also offers more than 21,000 square feet of amenities, including the St. Regis Spa, a state-of-the-art fitness center with dedicated yoga and group exercise studios, an indoor swimming pool and a rooftop terrace.

The joint venture acquired The St. Regis Chicago in May 2023, marking the first St. Regis-branded investment for both Gencom and GD Holdings and the partnership’s entry into the Chicago market. The acquisition further expanded the firms’ luxury hospitality portfolios, which include globally recognized brands such as The Ritz-Carlton, Ritz-Carlton Reserve, Four Seasons Hotels and Resorts, Hyatt, Rosewood Hotels & Resorts, Fairmont Hotels & Resorts, and Auberge Resorts Collection.

The St. Regis Chicago also features a curated collection of dining concepts that have helped redefine the city’s upscale culinary landscape, with five distinct venues spanning approximately 38,000 square feet and 580 seats. Two signature concepts are operated by Lettuce Entertain You Enterprises, one of Chicago’s leading restaurant groups. Located on the 11th floor, Miru is a Japanese-inspired, all-day dining concept led by Chef Hisanobu Osaka, while Tre Dita, a Tuscan-inspired steakhouse, was developed in collaboration with award-winning Chef Evan Funke.