Among these is a Southlake, Texas-based hotel development called RREAF Southlake Property, which has entered the first phase of its construction. Set across 16 acres, the development is set to have 239 suites and guestrooms, while restaurants and retail spaces may be added in future development phases.
The hotel is set to be six stories tall, and the first phase of the construction looks to finish before Fall 2020. MREI is providing the mezzanine debt for the project, while RREAF and RREAF Investors have provided the equity needed for installation. Staghorn Capital Partners has also provided a first lien construction loan to begin the development.