Noble Investment Group holds a final close at $1b for its hospitality fund
Noble Investment Group has held a final close at $1 billion for Noble Hospitality Fund V (Noble Fund V), surpassing its initial target and gathering capital from a global institutional base of investors.
Nobel Fund V, the fifth flagship fund from Noble Investment Group, will invest in value-add real estate opportunities in select-service and extended-stay hotels across the United States.
"The magnitude of loan maturities combined with record amounts of past-due renovations have created a generational investment opportunity for Noble to acquire income-producing hotels, recapitalize owners and add value both operationally and physically,” said Ben Brunt, managing principal, Noble.
Notably, 90 percent of Noble’s existing limited partners repeated their commitments to Noble Fund V.
Kevin Grass, managing principal, Noble, added, “Noble remains a leader in advancing design, innovation, technology and energy-efficient solutions, helping drive performance a