HOUSTON -

A private investment firm of billionaire Bill Gates has bought a hotel in downtown Houston.

Cascade Investments announced Wednesday the sale of the Four Seasons Hotel on Lamar Street will become official on Oct. 1

Maritz, Wolff & Co. has owned the hotel since 2000.

"We have great faith in Houston, particularly with its strong role in the global energy business," said Michael Larson, Chief Investment Officer of Cascade Investment.

The selling price for the hotel was not disclosed.