By the A.M. Costa Rica staff

Miami-based investment firm Gencom, announced Tuesday the acquisition of Hacienda AltaGracia in Pérez Zeledón in the southern zone of the country.

According to the firm, the resort was originally conceived and developed as a family retreat and coffee farm in a storied agricultural town and has consistently ranked among the top resorts in Central America since aligning with Auberge Resorts Collection in 2015.

The acquisition represents a continued expansion of the investment firm in Costa Rica. Gencom is a co-owner as well as the developer and asset manager of the master-planned resort community Peninsula Papagayo, which includes Four Seasons Resort Costa Rica and Andaz Costa Rica Resort.

Financial terms of the transaction were not disclosed.

"Gencom is thrilled to purchase this beloved Costa Rican property with an unparalleled setting and unique identity," said Karim Alibhai, founder and principal of Gencom. "As a stunning hideaway that celebrates Costa Rica's natural beauty, the purchase of Hacienda AltaGracia aligns with our team's focus on acquiring exceptional hospitality assets in compelling locations across the globe."

Hacienda AltaGracia includes 50 casitas starting from 1,173 square feet in 20,000 square feet of land with an on-site organic farm and indoor stables.

"Similar to our approach with Peninsula Papagayo, Gencom will build off of the natural surroundings and local community to carry out a business plan focused on creating authentic and extraordinary experiences for its guests, while being a steward of the environment and local community through sustainability practices," said Donald McGregor, Gencom's managing director for its Peninsula Papagayo investment and Gencom's Latin America division.

"The purchase of Hacienda AltaGracia demonstrates our ongoing strategy of identifying sound opportunities where Gencom can apply its core competencies and create value to increase profitability for its portfolio," added Alessandro Colantonio, executive vice president of acquisitions and capital markets at Gencom. "Through this acquisition, we are excited to establish a relationship with Auberge Resorts and expand our presence in the region, as well as our overall luxury hospitality portfolio."

According to Gencom the acquisition of the Hacienda was finalized Friday.

Gencom was founded in 1987 by Alibhai. Headquartered in Miami the firm has been  creating, purchasing and growing hospitality platform investments, throughout the United States, Caribbean and Europe, including Gencom American Hospitality, Summerfield Suites, Carnival Resorts and Interstate Hotels.








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