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June 2, 2016

Noble acquires 1,396-room Marriott Hotel portfolio

Noble Investment Group has closed the purchase of a 1,396-room portfolio of Marriott branded select-service and extended stay hotels from Ashford Hospitality Trust.

Noble Investment Group has closed the purchase of a 1,396-room portfolio of Marriott branded select-service and extended stay hotels from Ashford Hospitality Trust.

The hotel portfolio includes the 150-room Residence Inn Atlanta Buckhead/Lenox Park; the 146-room Courtyard Edison Woodbridge; the 312-room Courtyard Orlando Lake Buena Vista; the 388-room Fairfield Inn and Suites Orlando Lake Buena Vista; and, the 400-suite Springhill Suites Orlando Lake Buena Vista.

The Residence Inn Atlanta Buckhead/Lenox Park is located in Atlanta’s financial district.

The hotel is located within the Lenox Park office complex, the primary southeast campus of AT&T. The hotel is also proximate to an additional 20 million ft2 of office and more than 1,400 retailers where shoppers spend more than $1bn per year.

The Courtyard by Marriott Edison Woodbridge is at the nexus of Interstate-95 and Route 287, 30 miles from Manhattan and 60 miles from Philadelphia. The hotel is close to the Raritan Center, one of the largest business parks in the northeast with a nearly 15 million square foot campus; the 8.5 million ft2 Heller Industrial Park; and, the New Jersey Convention and Expo Center, the state’s largest private convention centre. The hotel is also convenient to shopping at Menlo Park and Woodbridge Mall.

The Orlando hotels were developed as a complex known as the Marriott Village Orlando Lake Buena Vista.

Set up in 1993, Noble specialises in making value-added, opportunistic investments in the lodging and hospitality real estate sector.

Through its private equity real estate funds, Noble has made more than $3bn of investments throughout the US in primarily select service and extended stay hotels which are affiliated with premium brands by Marriott, Hyatt, Hilton, Intercontinental and Starwood.

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