Gencom, Argent Ventures, and Highgate Acquire InterContinental New York Times Square

NEW YORK – December 11, 2025 – A partnership led by Gencom, Argent Ventures, and Highgate has acquired the InterContinental New York Times Square, a 607-key luxury hotel in Midtown Manhattan. The acquisition adds to Gencom’s growing portfolio of hospitality assets in New York City.

Details of the Acquisition

The 34-story property, located in the Times Square submarket, will transition from IHG management to an IHG franchise, with Highgate assuming management responsibilities. The hotel includes approximately 20,000 square feet of meeting space, a signature restaurant, a Shake Shack, and a 24-hour fitness center. Planned renovations will update guestrooms, public spaces, and dining venues.

The acquisition follows Gencom’s 2024 purchase of the Thompson Central Park in New York and represents the firm’s first acquisition of an InterContinental Hotels & Resorts-branded property.

Partnership and Financing Structure

The partnership includes Gencom, Argent Ventures, and Highgate. Monroe Capital provided debt financing for the transaction, while Eastdil Secured acted as capital markets broker. Limited partners in the deal include Tishman and MetLife Investment Management. The investment strategy is described as value-add, with a focus on repositioning the property through renovations and operational improvements. The transaction value was undisclosed.

Market Context

According to the announcement, the InterContinental New York Times Square is one of Manhattan’s most prominent hotels, offering contemporary design, skyline views, and proximity to major attractions such as Broadway, Rockefeller Center, and Hudson Yards.

Karim Alibhai, founder and principal of Gencom, said the transaction underscores the firm’s confidence in the long-term strength and global appeal of New York City as a hospitality destination.

Source: Gencom press release