Noble Investment Group announced the acquisition of a 35-asset portfolio.
The portfolio comprises 35 Sonesta Simply Suites, totaling more than 4,000 rooms across 19 states and 25 markets, with a concentration in high-growth Sunbelt and corporate-demand corridors. The acquisition is immediately accretive, supported by strong in-place occupancy, stable cash flow and an attractive basis relative to replacement cost.
The branded long-term accommodations segment continues to benefit from powerful secular tailwinds, including rising workforce mobility, housing affordability constraints and limited new supply.
“These fundamentals present a structural opportunity for Noble to acquire at compelling yields, unlock performance through operational alpha and deliver stable distributions while compounding long-term growth,” said Ben Brunt, CIO at Noble. “This portfolio directly advances that strategy and adds meaningful scale to our platform.”
Noble was advised
