Noble Acquires Portfolio of Three Major Hotel Brands
Noble Investment Group has announced the acquisition of the Residence Inn by Marriott Charlottesville Downtown, Hyatt House Tallahassee Capitol | University, and the Hampton Inn & Suites Tallahassee Capitol | University. These newly built hotels are in strong growth markets, which provide a highly resilient and diverse mix of business and leisure demand generators.
The Residence Inn by Marriott Charlottesville Downtown is centrally located along Main Street in Charlottesville, Virginia. The city is home to the 27,000-student University of Virginia , the 631-bed UVA Medical Center, and notable leisure landmarks such as Thomas Jefferson's home at Monticello and the Monticello Wine Trail.
Additionally, the Charlottesville Historic Downtown Mall provides more than 120 retail outlets and 30 restaurants within walking distance. The new $120 million, 14-acre UVA School of Data Science broke ground in October 2021 and will add to the growing presence of university demand.
The Hyatt House Tallahassee Capitol | University and Hampton Inn & Suites Tallahassee Capitol | University hotels are centrally located in downtown Tallahassee, Florida. As the state capital, the city serves as the epicenter of Florida's state government. It is home to Florida State University and Florida A&M University, with approximately 40,000 full-time students.
The area is also home to FSU's 79,560-seat Doak Campbell Stadium and is projected for solid growth with the addition of the $88.0 million FSU College of Business Legacy Hall and the late-2022 delivery of the $200.0 million, 630,000 square foot Amazon Robotics Fulfilment Center.
Founded in 1993, Noble is a minority-owned real estate investment manager with a diverse team specializing in the upscale U.S. lodging sector. Through its institutional real estate funds, Noble has invested nearly $5.0 billion in communities throughout the country, adding value across cycles and creating thousands of jobs.