Noble Investments closes second hotel fund
Atlanta-based Noble Investment Group has held a final close for the second fund in its hospitality series with $220 million in commitments, exceeding its $200 million fundraising goal. Noble Hospitality Fund II launched in 2012 and has a two-year commitment period. In March 2013, the firm had raised $101.7 million.
The fund’s investment strategy involves lodging acquisition, redevelopment and special-purpose new development. The value-added fund has a primary focus on the top 50 metropolitan statistical areas in the United States. It started investing its capital during third quarter 2012.
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