Fundraising - MARCH 23, 2015

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Hotel fund raises $155m toward $250m fundraising target

by Andrea Waitrovich

Noble Investment Group has raised more than half of its fundraising target for its third value-added hospitality fund.

According to an SEC filing, Noble Hospitality Fund III has raised $155 million of its $250 million equity fundraising target. The vehicle launched earlier this year. A scheduled final close date was not disclosed in the filing. It is the firm’s fifth private real estate fund.

Noble Hospitality Fund II — the firm’s fourth fund — closed in April 2013 with $220 million in equity commitments. The fund’s value-added strategy is focused on lodging acquisitions, redevelopments and special-purpose new developments with a primary focus on the top 50 MSAs in the United

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