Noble Acquires Ten Asset Portfolio of WoodSpring Suites Hotels

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Jul 18, 2023, 08:00 ET

ATLANTA, July 18, 2023 /PRNewswire/ -- Noble Investment Group ("Noble") today announced the acquisition of ten WoodSpring Suites hotels located throughout the southeastern United States. The firm plans to make physical improvements across the portfolio to enhance market positioning and accelerate performance.

Noble has acquired ten WoodSpring Suites hotels located throughout the southeastern United States.

The portfolio is located in markets throughout Florida, Georgia, South Carolina, Tennessee, and Kentucky, characterized by positive net migration, job growth, and wage growth. The extended-stay, apartment-like offerings are highly desirable for relocations, traveling health professionals, government workers, and infrastructure project-related businesses.

"Noble has acquired forty-eight hotels over the past two years, and we continue to add substantial scale to our extended-stay travel and hospitality platform," said Ben Brunt, Noble's Managing Principal & Chief Investment Officer.

Noble Investment Group
Noble is a real estate investment manager specializing in the travel and hospitality sector. With a track record spanning three decades, Noble has invested more than $5.0 billion in communities throughout the country, adding value across cycles and creating thousands of jobs. As a fiduciary to foremost pensions plans, endowments, and foundations, Noble's endeavors help to preserve and grow its limited partners' capital, which assists in providing retirement benefits for our country's teachers, law enforcement, firefighters, other pensioners, and financial resources for students to attend college. For more information, please visit www.nobleinvestment.com.

SOURCE Noble Investment Group