NOBLE INVESTMENT GROUP in Atlanta has acquired the Hilton Garden Inn Boise Downtown. The transaction caps more than $1 billion investment over the past year, according to a statement.
The 132-room hotel is near the city’s leisure and business centers, which includes the Idaho State Capitol, Boise State University, Jack’s Urban Meeting Place, Idaho Central Arena, and the Boise Centre, according to Noble, which is led by Mit Shah as CEO. Hotel amenities include an indoor pool, 4,098 square feet of meeting space and it is pet friendly.
“The Boise market demonstrates the key macro trends we are looking for in cities which we believe will outperform as we enter a new lodging cycle,” said Dustin Fisher, Noble’s senior vice president. “This acquisition aligns with our strategy to acquire high-quality, well-located assets in growth markets poised to benefit from the ongoing recovery in travel.”
According to the company, Downtown Boise has nearly four million square feet of office space, more than one hundred shops and restaurants, and art and history museums. It is the Pacific Northwest’s third most populous region after Seattle and Portland.
The city was ranked No. 1 on Indeed’s list of cities with the fastest job growth and among Forbes list of Fastest-Growing City in America. It also homes three Fortune 500 companies, Albertsons, Inc., Boise Cascade, and Micron Technology Inc., as well as numerous corporate headquarters, including the Simplot World Headquarters.
Founded in 1993, Noble is a real estate investment manager specializing in the upscale U.S. lodging sector. It has invested nearly $6 billion in communities throughout the country.
Early this month, it appointed Katherine Minnock as director of investments and Owen Berry as new development manager.