Noble Investments raises $101.7 million for hotel fund
Privately held Noble Investments Group has raised $101.7 million for its Noble Hospitality Fund II, according to a filing with the Securities and Exchange Commission. The value-added fund was launched in 2012 with a $200 million fundraising goal. A final close date was not disclosed.
Noble Hospitality Fund II’s investment platform is the acquisition, redevelopment and special-purpose new development strategy of lodging assets, with a primary focus on the top 50 metropolitan statistical areas in the United States. Noble Hospitality Fund II is the firm’s fourth private equity real estate fund. Its predecessor, Noble Hospitality Fund, closed in 2007 with $310 million in equity commitments.
Noble Investments focuses on acquiring and redeveloping premium-branded hotels primarily affiliated with Marriott, Hyatt and Hilton brands throughout the United States. Since 1993, Noble has invested