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Columbia Place on Track for $41M in EB-5 Capital by December

Uncertainty over the fate of the EB-5 program may have caused the market to slow down, but it hasn't stopped fundraising for Columbia Place.

The second phase of the Marriott Marquis Convention Center Hotels is on track to close its $40.5M capital raise in December. Fundraising began in mid-September, GlobeSt reports.

Columbia Place will have two new Marriott hotels—a 357-key Courtyard and a 147-key Residence Inn. The Marriott Marquis opened on May 1, 2014. The four-star, luxury hotel connects to the Walter E. Washington Convention Center by an underground tunnel. [GS]