Summary:
- Noble acquired 14 WoodSpring Suites hotels across U.S. markets.
- The acquisition advances the firm’s BLTA strategy.
- The assets are new, perform in place and were acquired below replacement cost.
NOBLE INVESTMENT GROUP acquired 14 WoodSpring Suites properties across U.S. markets with multiple demand drivers. The portfolio advances the firm’s branded long-term accommodations strategy and deploys institutional capital into scalable operating investments.
The acquisition is a core component of Noble’s BLTA growth pipeline and reflects the firm’s focus on aggregating assets in fragmented segments through off-market sourcing, the firm said in a statement. The assets are recently developed, demonstrate in-place operating performance and were acquired below replacement cost.
“This portfolio demonstrates our ability to scale differentiated operating strategies through disciplined underwriting and off-market execution,” said Dustin Fisher, Noble’s principal and head of acquisitions. “With limited near-term capital requirements and an established operating base, the assets are positioned to benefit from Noble’s platform and deliver consistent long-term performance.”
The transaction aligns with Noble’s capital formation strategy by deploying institutional capital into a scalable platform designed to generate income and long-term value, the statement said. Atlanta-based Noble is led by founder and CEO Mit Shah.
In December, Noble acquired a 35-property Sonesta Simply Suites portfolio of more than 4,000 rooms, expanding the firm’s branded long-term accommodations platform.
