Noble Investment Group has acquired two Maryland-based hotels: Aloft Arundel Mills and Element Arundel Mills. No financial terms were disclosed. Both hotels opened in 2009 and were renovated in 2015.
ATLANTA, July 11, 2017 /PRNewswire/ — Noble Investment Group (“Noble”) today announced the acquisition of the dual-branded Aloft Arundel Mills and Element Arundel Mills. Located in the Baltimore-Washington Metropolitan area and proximate to BWI International Airport and Fort Meade, the hotels opened in 2009 and were renovated in 2015.
The hotels are adjacent to Arundel Mills, the largest upscale retail center in the state of Maryland, and Maryland Live! Casino, one of the largest casino destinations in the United States with more than 260,000 square feet of gaming space. A prominent corporate center, the area is home to companies such as General Dynamics, Northrup Grumman, Siemens, CSC, Aerotek and Booz Allen Hamilton.
“The Arundel Mills/BWI market has continued expand with a consistent demand base anchored by defense and government related businesses,” said Noble principal, Ben Brunt. “The Aloft and Element acquisition provides Noble the opportunity to acquire an institutional quality, dual-branded hotel, at a significant discount to replacement cost; and at a time when these exciting brands are also set to benefit from joining the Marriott reservation system.”
The Aloft Arundel Mills features 142 guestrooms with amenities such as a 24-hour business center and fitness center, an indoor pool, a self-service car wash and hotel-wide complimentary high-speed wireless internet access. The Re:Mix(SM) lounge is stocked with games, TV’s and a pool table and connects with the W XYZ® bar, open in the evenings. The hotel offers Camp Aloft for kids ages 2-12, providing child-size mattresses, a goodie bag upon arrival, games and kid-friendly food options. The hotel is also pet-friendly with the arf (SM) pet program featuring a special bed, bowl, and a doggie bag full of treats and toys.
The Element Arundel Mills features 147 studios and suites, which come with fully-equipped kitchens with a full-sized refrigerator, range top, microwave, and coffee maker. The hotel offers a 24-hour business center and fitness center, indoor pool, outdoor patio with self-service grill, 24-hour laundry room, and complimentary internet access throughout the hotel. Guest can enjoy a complimentary daily hot breakfast with a variety of healthy options at Rise: Breakfast Bar, as well as a complimentary evening social Monday – Thursday. The pet-friendly hotel also offers an in-room dog bed and water bowl, an extensive walking area and free treats and toys.
For more information or to make reservations at Aloft Arundel Mills, please visit aloftarundelmills.com or call 443-577-0077. For more information or to make reservations at Element Arundel Mills, please visit elementarundelmills.com or call 443-577-0050.
Noble Investment Group
Since 1993, Noble has specialized in making value-added, 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 millions of our country’s teachers, policemen and firefighters as well as financial resources for students to attend college. For more information, please visit nobleinvestment.com.