US: Noble Investment Group has acquired a 10-property portfolio of upscale select-service and upscale extended stay hotels.
The properties sit under Marriott, Hilton, and IHG brands spanning the Pacific Northwest, Midwest, Southeast, and Northeast. The average age of the assets are less than six years.
Terms of the deal were not disclosed, however Noble added that the portfolio was acquired below replacement costs.
“This is precisely the kind of opportunity our platform is built to source, underwrite, and execute,” said Dustin Fisher, principal and head of acquisitions at Noble. “10 newer-vintage, well-located assets, premium brands, geographic diversification, and an attractive basis – paired with a hands-on operating capability that allows us to compound value through disciplined asset management.”
Highlights:
- Noble Investment Group has acquired a 10-property portfolio of upscale select-service and extended stay hotels across multiple US regions, strengthening its national hospitality footprint.
- The hotel portfolio spans the Pacific Northwest, Midwest, Southeast and Northeast, operating under major brands from Marriott International, Hilton Worldwide and IHG Hotels & Resorts.
- Terms of the transaction were undisclosed, though Noble Investment Group stated the portfolio was acquired below replacement cost.