Kimpton Hotel coming to downtown Reno; CAI confirms boutique brand for Court Street project

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Kimpton Hotel, a pioneering brand in the boutique hotel segment, is coming to downtown Reno. The San Francisco-based hotel franchise is building its first property in the Biggest Little City in partnership with developer CAI Investments. The Las Vegas-based developer first announced its new Court Street project last year but…


CAI Investments Fully Subscribes DST Offering of Pennsylvania Logistics Facility

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CAI Investments, a property manager/developer and private placement sponsor, has fully subscribed its Delaware statutory offering, CAI Investments Coatesville DST, comprised of a specialized industrial facility located in Coatesville, Pennsylvania. The private placement offering raised nearly $18.7 million from accredited investors. The 152,900-square-foot Coatesville facility sits on roughly 20 acres…


CAI Tempe Hotel Partners Closes $86.5 Million Construction Loan

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TEMPE, Ariz., Aug. 21, 2019 /PRNewswire/ — CAI Investments, LLC is pleased to announce that it closed the construction loan for the Westin by Marriott hotel in Tempe, Arizona. Construction on the Westin began in March 2019 and the anticipated opening is the second quarter of 2021. “We are pleased…


Harrah’s Casino in Reno to Be Sold, Closed After 82 Years

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Harrah’s Reno Hotel and Casino will close after Caesars Entertainment Corp. CZR +1.18% said it agreed to sell the property for $50 million to a real-estate developer, which will turn it into a nongambling resort. The change of business plan highlights the growing challenges facing traditional gambling operators. The 82-year-old…


CBRE Hotels Arranges Sale of Wyndham Bay Point Resort in Panama City Beach

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Panama City Beach, Florida – May 27, 2014 – CBRE Hotels arranged the sale of the 319-room Wyndham Bay Point Resort, a 235,032-square-foot property located at 4114 Jan Cooley Drive in the Bay Point Resort Golf Club, along Saint Andrew’s Bay in Panama City Beach, Florida. CAI Investment Series 2,…


Harrah’s Reno to turn into Reno City Center. Here’s what it will look like.

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Say goodbye to Harrah’s Reno and hello to Reno City Center. The longstanding gaming icon in the heart of downtown Reno is set to undergo a transformation as a mixed-use property after its sale to Las Vegas-based real estate group CAI Investments. The hotel-casino was sold by VICI Properties and…


Harrah’s Reno sells for $50M to Las Vegas developer

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The original Harrah’s casino in downtown Reno is trading its slot machines and tables games for market-rate apartments and office space. Caesars Entertainment Corp. announced Wednesday that Harrah’s Reno is set to be sold to Las Vegas developer Chris Beavor, founder of CAI Investments, for $50 million. The sale comes…


Caesars Entertainment and VICI Properties Inc. Announce Sale of Harrah’s Reno to CAI Investments

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Caesars Entertainment Corporation (NASDAQ:CZR) (“Caesars Entertainment” or “Caesars”) and VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or “VICI”) today announced they have signed an agreement to sell Harrah’s Reno Hotel and Casino (“Harrah’s Reno”) to an affiliate of CAI Investments (the “Buyer”) for $50 million. The proceeds of the transaction shall…


Caesars confirms sale of Harrah’s Reno, new owner tied to proposed 20-story downtown hotel

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It’s official. Caesars Entertainment just confirmed that Harrah’s Reno will be sold to an affiliate of CAI Investments for $50 million, closing the chapter on one of downtown Reno’s iconic hotel-casinos. Caesars, which has been leasing Harrah’s Reno from VICI Properties, made the announcement on Wednesday afternoon after news of…


Las Vegas Welcomes First Delta Hotels By Marriott During Groundbreaking Ceremony

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LAS VEGAS , July 10, 2019 /CNW/ — On Wednesday, June 26 , CAI Investments broke ground on the future site of Las Vegas’ first Delta Hotels by Marriott, located at 3883 West Flamingo Road. To celebrate the project, Clark County Commissioner Michael Naft , CAI Investments’ founder, Christopher Beavor…


Retail Market Heats Up in Las Vegas

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Two national chains scoop up land parcels in Las Vegas at strong 3.7% and 4.1% cap rates. The retail market is heating up in Las Vegas. CAI Investments has developed and sold two of the land parcels in its larger 3883 Flamingo Center mixed-use project in Las Vegas, which will…


New restaurants, apartment and hotel being built next to Palms Casino

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The Palms Casino is getting a new neighbor. Developers are working on a new project that will include restaurants, apartments and a hotel. Christopher Beavor, CEO of CAI Investments, said more industries are moving out of the area, making room for projects like his. He showed FOX5 renderings of the…


Chick-fil-A, mixed-used project coming near Palms in Las Vegas

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Construction of a mixed-use project next to the Palms is underway, with Chick-fil-A, an upscale hotel and a luxury apartment complex set to start taking shape this year, developers said. Source: https://www.reviewjournal.com/business/chick-fil-a-mixed-used-project-coming-near-palms-in-las-vegas-1606798/


Del Taco Celebrates Grand Opening of Goodyear Location with Ribbon Cutting Ceremony

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Lake Forest, CA  (RestaurantNews.com) WHAT: Del Taco Restaurants, Inc. (NASDAQ: TACO), the nation’s second leading Mexican quick service restaurant* (MQSR), is celebrating the official grand opening of its newest Arizona location in Goodyear (1901 North Pebble Creek Parkway) with a ribbon cutting ceremony. The celebration kicked off with a visit…


17-story hotel under construction next to Palms on Flamingo Road

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Construction is underway on a 17-story non-gaming hotel on Flamingo Road, next door to the Palms resort just west of the Las Vegas Strip. The project, called 3883 Flamingo, sits on almost 9 acres and will include multifamily housing and retail, according to the developer, CAI Investments, which hosted a…


290+ Room Westin Planned for Tempe

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By Roland Murphy for Arizona Builder’s Exchange Tempe’s Development Review Commission will consider plans for a new 18-story Westin Hotel at 11 E. 7th St. at its Sept. 26th meeting. The project will feature between 260-290 rooms, 1,800SF of retail space, 1,400SF of restaurant and 12KSF of conference area. The…


No More of a ‘Build it And They Will Come’ Aspect of Retail

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LAS VEGAS—There is no longer a “build it and they will come” aspect for retail development. So says Christopher Beavor, CEO of CAI Investments. GlobeSt.com visited the CAI Investments booth last week at ICSC RECon and discussed trends in the retail space and how the industry is changing. Beavor tells…


New Westin hotel in downtown Tempe breaks ground

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PHOENIX – The construction of a new 18-story, 290-room Westin Hotel is officially underway in downtown Tempe after a ground-breaking ceremony took place on Thursday. According to a press release, the Westin Tempe will be a full-service business hotel with state-of-the-art guest rooms, a modern look and custom finishes throughout…


Construction begins on The Westin Tempe

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The Westin Tempe has officially broken ground in the heart of Downtown Tempe on Seventh Street between Mill and Myrtle avenues. Developed by Las Vegas-based CAI Investments, the 18-story Westin Tempe will be a full-service business hotel. Participants in the ceremony included CAI Founder Christopher Beavor, Tempe Mayor Mark Mitchell,…


Veterans in Franchising: Chris Beavor

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Del Taco franchisee Chris Beavor highlights how serving in the U.S. Air Force helped prepare him to become a successful entrepreneur. For Chris Beavor, it was the ability to serve his country that first inspired him to join the U.S. Air Force. However, he also knew that the experience and…