Noble Investment Group has acquired the Denver, Colorado-based Residence Inn by Marriott Denver City Center, a 228-suite hotel. No financial terms were disclosed.
ATLANTA, Dec. 20, 2018 /PRNewswire/ — Noble Investment Group (“Noble”) today announced the acquisition of the 228-suite Residence Inn by Marriott Denver City Center in downtown Denver, Colorado.
Downtown Denver is comprised by more than 25 million square feet of Class A office space, a highly dense residential population, and is home to more than 45,000 college students. The city is ranked among Forbes 2018 Best Places for Business and Careers with one of the highest wages and lowest unemployment rates in the United States. U.S. News and World Report ranked Denver No. 3 on the list of 2018 Best Places to Live while Wallethub ranked Denver No. 5 on the list of 2018 Fastest-Growing Big Cities in the United States.
The Residence Inn by Marriott Denver City Center is located in the heart of more than 300 restaurants, three major sports stadiums, the Colorado Convention Center, the Pepsi Center, the Denver Performing Arts Center and a variety of art and history museums. The hotel is also adjacent to the 16th Street Pedestrian Mall which connects to Union Station, the world-class, multimodal transportation hub with direct-rail connection to Denver International Airport.
“We are pleased to acquire this premium-branded, urban hotel development in a market that possesses a variety of deep and stable demand generators and a strong long-term growth trajectory,” said Noble principal, Ben Brunt.
About Noble Investment Group:
Since 1993, Noble has specialized in making value-add, opportunistic and income investments in upscale select service and extended-stay hotels affiliated with Marriott, Hyatt, Hilton and Intercontinental. Through its private equity real estate funds, Noble has invested more than $3 billion in communities throughout the United States, creating thousands of jobs. As a fiduciary to state pensions, university endowments and foundations, Noble’s endeavors help to preserve and grow our limited partners’ capital which provides retirement benefits for our country’s teachers, policemen and firefighters as well as financial resources for students to attend college. For more information, please visit: www.nobleinvestment.com