Group items tagged

NOBLE INVESTMENT GROUP, led by Mit Shah as CEO, has closed the latest installment in its Noble Hospitality Fund V, securing $1 billion. The fund focuses on value-added investments in select-service and extended-stay hotels across the U.S. and was oversubscribed, attracting $1 billion in equity commitments from a global institutional base, Noble said in a statement. Ninety percent of Noble's existing limited partners recommit to Noble Fund V, alongside new institutional investors, Noble said. The company has achieved a 15 percent net IRR on $3 billion of realized capital over thirty years, spanning multiple market cycles. "Our team, sourcing relationships, research DNA, data, and insights continue to generate outstanding returns for our investors and provide Noble with a significant and scalable competitive advantage," said Shah. "The overwhelming support of Noble Fund V reflects the enduring trust of our limited partners, and we remain deeply grateful for their continued confidence in us as their fiduciary."

MIT SHAH-LED NOBLE Investment Group topped the "2023 Best Places to Work in Money Management" awards by the investment news portal Pensions & Investments. The selection process involved a thorough evaluation of workplace policies, practices, and employee feedback, with combined insights playing a key role in identifying top companies in the industry, Noble said in a statement. Shah, Noble's founder and CEO, expressed honor in being named to the list. "We take pride in the ongoing recognition of Noble's culture, emphasizing excellence, inclusivity, and professional growth," Shah said. "Our team, our greatest strength, shares a dedication to fostering an environment that values and supports one another, as reflected in this honor." "As their employees attest, companies on this year's Best Places to Work list showcase a commitment to cultivating a robust workplace culture," said P&I Executive Editor Julie Tatge. "Even amid challenges like volatile markets and ongoing pandemic stress, employees noted strong support from their managers, empowering them to perform at their best."

Noble Investment Group has made three new appointments to its senior management lineup. They are Ben Brunt as chief investment officer, Jim Conley as chief compliance officer, and George Dabney as chief financial officer, and all three are principals, too. Noble, based in Atlanta and led by Mit Shah as CEO, is beginning its 28th year of operation. Brunt, who joined Noble in 2005, succeeds Rodney Williams, who retired as CIO in December. Williams will continue to serve on the firm's investment committee as a senior advisor. "Ben is a driven, results-oriented leader who has been instrumental in guiding our value-creating investment efforts," Shah said. Conley joined Noble in 2006 as chief financial officer. In his new role, he will oversee the administration of the firm's regulatory and compliance function. He also manage the company's environmental, social, and governance initiatives along with the firm's duties as a signatory to the United Nations Principles of Responsible Investment.

FOLLOWING NEARLY TWO decades with Noble Investment Group and a 40-year career in real estate and hospitality, Jim Conley will retire and become a senior advisor to the firm. The company has appointed Katherine Seitz as its new compliance officer. Conley joined Noble in 2006 as chief financial officer before becoming the firm's first compliance officer. In this role, he led the oversight and administration of Noble's regulatory and compliance functions and helped oversee the impact of Noble's core ESG initiatives and its duties as a signatory to the United Nations Principles of Responsible Investment, the company said in a statement. "Jim is a trusted friend and respected colleague who has been an important part of our organization's longstanding success," said Mit Shah, Noble CEO. "We are deeply grateful for his profound commitment to our team and to upholding Noble's ethical standards of performance." Conley said Noble is his family and their journey together had been most fulfilling. "I take immense pride in our team's accomplishments and our distinguished record as an institutional fiduciary. I am equally enthusiastic about the firm's future and its next generation of leadership," Conley said. Seitz assumes responsibility for managing and directing Noble's regulatory, compliance and ESG programs. She joined Noble from Carter's Inc., where she was corporate counsel. She has practiced law and served as in-house counsel focusing on real estate and corporate services for nearly twenty years, the statement added.

NOBLE INVESTMENT GROUP signed an agreement with Choice Hotels International to develop nine WoodSpring Suites hotels in Georgia and South Carolina in two years. The companies say the agreement represents an increased institutional interest in the economy extended-stay brand. Noble, led by Mit Shah as founder and CEO, is a real estate investment manager specializing in select-service and extended-stay travel and hospitality with over $5 billion in assets. "Noble continues to add substantial scale to our extended-stay travel and hospitality platform," said Ben Brunt, Noble's chief investment officer. "WoodSpring Suites has an outstanding track record of high performance across economic cycles, and we are pleased to welcome these new investments into our portfolio."

Katherine Minnock is now director of investments for Noble Investment Group in Atlanta. Owen Berry is the company's new development manager. Both new hires will support the expansion of Noble's investment platform, according to the company, which is led by Mit Shah as CEO. Prior to joining Noble, Minnock was director of development for the U.S. and Asia Pacific at Starwood Capital affiliate SH Hotels & Resorts. Prior to that she held leadership roles at BRE Hotels & Resorts, a Blackstone company, and Hilton. Minnock has a bachelor's degree in hotel administration from Cornell University, where she serves as a board member of the Cornell Hotel Society. In her new role, she will oversee acquisition and development strategies across Noble's investment platforms. "Katie's addition to our team supports Noble's commitment to recruiting top talent as we continue to expand the depth and breadth of our hospitality investment strategies," said Dustin Fisher, Noble's senior vice president.

TWO MAJOR COMPANIES in the real estate finance space, Noble Investment Group and Peachtree Hotel Group affiliate Stonehill, recently announced major changes in their senior leadership team. Noble, led by Mit Shah as CEO, announced triple promotions in the firm. Dustin Fisher, Lisa Smith and Judd Ledet have been promoted as senior vice presidents for investments, asset management and development, respectively. Fisher will be responsible for the sourcing and execution of acquisition opportunities across Noble's institutional investment platforms, a statement said. Smith will lead the firm's asset management team and oversee a majority of Noble's third-party hotel operating relationships and overall asset performance.

NOBLE INVESTMENT GROUP has acquired the Homewood Suites by Hilton Salt Lake City | Downtown in Salt Lake City, Utah. The company, led by Mit Shah as CEO,said the city represents a fast-growing market. The 137-room hotel is in Salt Lake City's central business and entertainment district, according to Noble. The area contains more than 15 million square feet of office space and several corporate headquarters, including Zions Bancorporation, Questar Corporation, and Goldman Sachs. Also nearby are the Salt Palace Convention Center, Vivint Arena, Gallivan Center, Temple Square and the Utah State Capitol. More than 26 million passengers annually pass through the Salt Lake City International Airport, which is 4 miles west of downtown. "Salt Lake City has seen some of the highest in-migration trends leading up to and continuing through the global health crisis," Noble said in its statement. "The city boasts more than ten ski resorts within an hour's drive, as well as more than a dozen national parks and monuments. With its world-class outdoor lifestyle, Salt Lake City is one of the most dynamic leisure and corporate travel markets in the U.S."

NOBLE INVESTMENT GROUP has acquired two hotels in National Landing, a mixed-use development in Arlington, Virginia, near Washington, D.C. The acquisitions come days after the Atlanta-based company, led by Mit Shah as CEO bought two hotels in Savannah, Georgia. The hotels are the 162-room Hampton Inn & Suites National Landing and the 248-room Hilton Garden Inn National Landing. The neighborhoods of Crystal City, Pentagon City and Potomac Yard comprise the National Landing development, which includes of offices, residential, dining, retail, parks, bike paths, and walking trails. "National Landing is home to more than seventeen million square feet of office, a highly skilled workforce of more than 50,000 people, and an affluent residential population. Virginia's largest walkable downtown, National Landing, further benefits from billions of dollars in private and public investments," Noble said in a press release. "Most notably are the $2.5 billion Amazon HQ2 under development, which will create 25,000 new jobs in National Landing, and Virginia Tech's Innovation Campus, which is expected to drive a new era of technology for the greater Washington D.C. area."

NOBLE INVESTMENT GROUP in Atlanta has acquired the Hilton Garden Inn Boise Downtown. The transaction caps more than $1 billion investment over the past year, according to a statement. The 132-room hotel is near the city's leisure and business centers, which includes the Idaho State Capitol, Boise State University, Jack's Urban Meeting Place, Idaho Central Arena, and the Boise Centre, according to Noble, which is led by Mit Shah as CEO. Hotel amenities include an indoor pool, 4,098 square feet of meeting space and it is pet friendly. "The Boise market demonstrates the key macro trends we are looking for in cities which we believe will outperform as we enter a new lodging cycle," said Dustin Fisher, Noble's senior vice president. "This acquisition aligns with our strategy to acquire high-quality, well-located assets in growth markets poised to benefit from the ongoing recovery in travel."

NOBLE INVESTMENT GROUP has acquired the dual-brand Hampton Inn & Suites Downtown Denver and Homewood Suites by Hilton Downtown Denver in Denver. Atlanta-based Noble is led by founder and CEO Mit Shah. The dual-brand hotel has a combined 302 guestrooms and suites, an indoor pool and whirlpool, a bar and more than 7,000 square feet of meeting and boardroom space. It is near the Colorado Convention Center and the 16th Street Pedestrian Mall, as well as the Union Station multimodal transportation hub. Downtown Denver also includes more than 25 million square feet of office space, three major sports stadiums, the Pepsi Center, the Denver Performing Arts Center, restaurants and museums and other attractions.

NOBLE INVESTMENT GROUP recently acquired two hotels in Savannah, Georgia. The hotels are the Hampton Inn Savannah Historic District and Holiday Inn Express Savannah Historic District. Chattanooga, Tennessee-based Noble, led by Mit Shah as CEO, acquired the hotels because of their position in Savannah's historic district. The city recently was named Travel + Leisure magazine's No. 3 Top City in the U.S. and included on TIME's list of The World's Greatest Places of 2021. The 7-floor, 143-room Holiday Inn Express has 2,765 square feet of meeting space, a rooftop pool and the Port Royal Tavern in the lobby. The 147-room Hampton Inn has an outdoor pool, a fitness center and a business center. In the historic district, the hotels are near museums, historic landmarks, mansions, and monuments from the Revolutionary and Civil War eras. Both hotels are on East Bay Street across the Savannah River from the Savannah Convention Center and River Street shopping and entertainment area.