NOBLE INVESTMENT GROUP has acquired the Hilton Garden Inn Jacksonville Ponte Vedra in Jacksonville, Florida. The company is planning to completely renovate the property.
Noble Investment Group is led by Mit Shah as CEO.
The 127-room hotel is part of the Sawgrass Village mixed-use development in Ponte Vedra Beach area of Jacksonville. It is near the TPC Sawgrass, home of The Players Championship and the new PGA Tour headquarters. Also nearby are the Mayo Clinic Jacksonville, Blue Cross Blue Shield’s Florida headquarters, St. Johns Town Center and four public beaches with more than 22 miles of coastline.
“The Jacksonville 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 vice president. “This high-quality asset will undergo a meaningful value-add renovation which will help to drive market share throughout a diversified mix of leisure, healthcare, corporate and government demand generators.”
Founded in 1993, Nashville, Tennessee-based Noble has invested more than $4 billion in communities throughout the country. As a signatory to the UNPRI and a fiduciary to pensions plans, endowments, and foundations, Noble aims to preserve and grow its limited partners’ capital while helping to provide retirement benefits for teachers, law enforcement, firefighters, other pensioners, as well as financial resources for college students.
In February, Noble opened the 175-room Element Nashville Vanderbilt West End in Nashville.