Noble Investment markets third hotel fund
Noble Investment Group has a third hotel fund in market, according to a filing with the SEC. Noble Hospitality Fund III, which has raised $45 million of its $250 million target, will invest directly into the U.S. hotel sector.
The fund series debuted with Noble Hospitality Fund, which closed with $310 million in 2007. The oversubscribed hotel fund was the organization's third private equity fund and when combined with prudent debt leverage, will have the capacity to acquire and develop more than $1 billion in lodging assets. The fund is fully invested and is partially realized.
And Noble Hospitality Fund II closed in April 2013 with $220 million, exceeding its $200 million fundraising goal. The fund is the firm’s fourth private equity fund and its investment strategy involves lodging acquisition, redevelopment and special-purpos