Noble Investment Group Closes $1B Hospitality Fund

Noble Investment Group, a real estate investment manager specializing in the travel and hospitality sector, held the final close for Noble Hospitality Fund V, L.P. at an oversubscribed $1 billion. The fund will focus on value-added investments in select-service and extended-stay hotels across the U.S.

Noble noted that 90% of its existing limited partners repeated their commitments to Noble Fund V, together with commitments from several new institutional investors.

“The magnitude of loan maturities combined with record amounts of past-due renovations have created a generational investment opportunity for Noble to acquire income-producing hotels, recapitalize owners, and add value both operationally and physically,” said Noble managing principal, Ben Brunt.

Value-added strategies through September 30, 2023 have delivered a 15% net IRR on $3 billion of realized capital across multiple market cycles over 30 years, according to the firm.