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MRI REPRESENTED SELLER, CATHAY BANK, IN THE SALE OF GALVESTON PROPERTY

Jean LaFitte Hotel in GalvestonChristopher Dray and Derek Hargrove of Moody Rambin Investment Services represented Cathay Bank in the sale of the former Jean LaFitte Hotel in Galveston. Itex Partners out of Port Arthur will be renovating the historic hotel into a mixed-use and mixed-income apartment complex with the help of state and federal disaster recovery funds. Approximately half of the units will be set aside for low and moderate income housing.