Noble Investment Group said that its most recent fund exceeded its cap and closed $220 million. About 75% of Noble Hospitality Fund II was committed by repeat investors. Nobe Investment Group is a lodging and hospitality real estate investment firm.
Noble Investment Group (“Noble”), one of the most experienced lodging and hospitality real estate investment firms in the U.S., is pleased to announce the successful final closing of its most recent dedicated hospitality investment fund. Noble Hospitality Fund II was significantly oversubscribed and exceeded its cap with $220 million of equity commitments from prominent state and corporate pension plans, leading university endowments and foundations, fund of funds and the principals of Noble. Approximately seventy-five percent of the capital for Noble Hospitality Fund II was committed by repeat investors and those with a long term relationship with the firm. Noble Hospitality Fund II has a two-year commitment period.
“We remain grateful for our investors’ continued trust and confidence in our Noble team and the differentiated value-creation strategy we have been successfully pursuing since 1993,” commented Mit Shah, Noble’s chief executive officer and senior managing principal. After making no new investments from May of 2008 through April of 2010, Noble has strategically increased its investment activity. In 2012, Noble fully invested their most recent hospitality real estate fund which had a three-year commitment period and $310 million in equity commitments. During the past twelve months, Noble has acquired or opened ten hotels representing approximately $300 million in investments.
“We have been actively investing our new fund since the third quarter of last year and we will continue to utilize our exceptionally strong relationships throughout the lodging industry to source opportunities as well as our internal core competencies to execute our investment strategy,” added Rodney Williams , Noble’s chief investment officer and managing principal.
About Noble Investment Group
Founded in 1993, the Noble organization specializes in making value-added, opportunistic investments in the lodging and hospitality real estate sector. Through its private equity real estate funds, Noble has invested more than $2 billion in upper upscale and upscale hotels located throughout the United States which are affiliated with premium brands by Marriott, Hyatt, Hilton and Starwood. For additional information, please visit www.nobleinvestment.com