MIT SHAH-LED Noble Investment Group has acquired Holiday Inn Express Nashville Downtown in Nashville, Tennessee. The hotel is located in the city's entertainment district and is close to more than 100 live music venues, the Music City Center, Bridgestone Arena, more than 500 bars and restaurants, and more than 100 shops, Noble said in a statement.
"The Nashville market remains among the most dynamic growth markets in the country, with a highly diversified demand base across multiple segments," said Dustin Fisher, Noble senior vice president.
Noble has invested almost $6 billion in communities across the country, the statement added. Downtown Nashville has eight million square feet of Class A office space, accommodating over 80,000 daily employees. The area draws in more than 15 million visitors annually and is home to notable venues like the Ryman Auditorium and the Country Music Hall of Fame.
Noble Investment Group recently concluded Noble Hospitality Fund V at $1 billion, securing a 90 percent recommitment from current limited partners and additional backing from new institutional investors. Noble reports a sustained 15 percent net IRR on $3 billion of realized capital over 30 years, navigating diverse market cycles.
