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ATLANTA-Locally based Noble Investment Group has closed on a$310-million fund with plans to acquire and develop more than $1billion in hotel assets over the next three years.
The fund, called the Noble Hospitality Fund LLC, is comprised ofseven institutional investors, including major public pension fundsand university endowments and investment by the principals ofNoble. "We know that lodging is an active business that operates ineconomic cycles," says Noble CEO and fund senior managing principalMit Shah. "Without debating the stage of the current cycle, NCREIFdata shows that active lodging and hospitality specialists arebetter positioned to provide superior risk-adjusted returnsthroughout challenging market conditions."
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