The Monte Vista Boutique Hotel has raised $1.12 million, according to a Tuesday filing with the Securities and Exchange Commission.

The hotel is still seeking to raise an additional $180,000 to meet its goal of $1.3 million.

The money was raised by eight investors, in the form of equity.

The historic hotel in Black Mountain was built in 1937 and consists of 32 rooms.

The hotel was purchased by Barney Fitzpatrick and Sue Conlon in 2010, and they reopened it in Spring 2011, following renovations.

Originally owned by Lucien and Rosalie Phillips, the Monte Vista stayed within the family until its recent purchase.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.