Hotels

Qatar state-owned, Katara Hospitality purchased 100% of the ownership in the iconic, New York destination.

In addition to the Centennial Bank construction loan, Riviera Point has raised close to $6.5 million in private equity and $11.5 million in EB-5 funds for the construction of the Radisson RED.

There is a high level of interest in Houston, having recovered from the 2014 downswing, and its strength reflects resurgent domestic energy demand, along with a more diversified economy in recent years.

The hotel benefits from the area's wide variety of corporate demand generators, dining and shopping options, says Apple Hospitality REIT's Nelson Knight, executive vice president and chief investment officer.

When fully developed, the 60-acre mixed-use development, CityPlace, will include 4 million square feet of class-A office space with 400,000 square feet of retail space, a Marriott and additional multifamily.

The REIT used a new funding program that its asset manager Ashford Inc. launched to make acquisitions easier and more profitable.

The company is making $50 million available to Ashford Hospitality Trust that can support up to $500 million in acquisitions.

Key International and Ingtegra acquired the 3.2-acre property at 725 S. Ocean Blvd. last summer from an affiliate of Blackstone. The Key International executive says he hopes to begin construction on the $85-million, four-story project by the end of 2019.