Summit

Following the sale of the Knutsford Court Hotel last year, the four-acre property situated in New Kingston is being renamed to Summit by its new owner, Novamed Limited.

According to Novamed’s founder and director Dr David Walcott, the new name of the soon-to-be ‘smart business campus’ is being revealed following the completion of a US$40-million deal.

“The deal was done with a specially structured vehicle which took us a few months to complete, and renovation plans have already started for what will be Jamaica’s first smart commercial centre. Our plan is to bring a highly international flavour to Jamaican commercial real estate and use technology to efficiently engage our clients and meet their needs,” he said in a news release on Tuesday.

Novamed Property Limited as the investment vehicle was specially created to acquire and/or operate real estate properties in the health care, lifestyle, and commercial spaces. The real estate investment company already operates a growing portfolio of companies which includes: First Step, a medical education business, and CareerMD, a professional consultancy for medical practitioners. The company also holds a stake in the Windward Medical Centre, whose services it has digitised since a 2018 acquisition.

The company co-founded by Kirk-Anthony Hamilton, head of the Infiniti Partnership Inc, and Kevin Donaldson, founder of Roots Financial Group, aims to bring innovative solutions to emerging markets in the Caribbean and Latin America by investing in health care specific assets, including real estate, operating companies, and medical technology.

By repurposing the once popular hotel used by many companies to host their annual general meetings, Novamed through Summit intends to unleash its vision for transforming the New Kingston landscape.

The property was acquired from business leader and hotelier Kevin Hendrickson, who also owns the Courtleigh and Jamaica Pegasus hotels.