Noble Investment Group Acquires the Hilton Garden Inn Boston Waltham
Represents the Organization's Fifteenth Investment over the Past Twelve Months
ATLANTA, May 15, 2012 /PRNewswire/ -- Noble Investment Group ("Noble"), a leading lodging and hospitality investment organization, announced the acquisition of the Hilton Garden Inn Boston Waltham in Waltham, Massachusetts. The hotel will undergo a comprehensive renovation to significantly enhance its amenity offerings and guest experience. The 148-room hotel is prominently located in the greater Boston metropolitan area submarket of Waltham within the Route 128 corridor, commonly known as "High Tech Highway." Waltham is home to several Fortune 500 Companies such as IBM and PREXEL in addition to the global headquarters for companies such as Raytheon, Thermo Fisher and AstraZeneca. The Hilton Garden Inn Boston Waltham is also proximate to Brandeis University, Bentley University and Hascomb Air Force Base.
"The acquisition of the Hilton Garden Inn Boston Waltham is representative of Noble's ability to source investments that best utilize our core strengths to rehabilitate an asset that is underperforming its market due to less than optimum physical condition," said Ben Brunt, a Noble principal and executive vice president of investments. "Our targeted renovation plan will dramatically enhance the property's profile and maximize its position and performance within the Waltham marketplace."
The hotel's exterior will undergo a major refurbishment while the interior will receive a substantial visual transformation with updated design elements focusing on the public areas as well as all guestrooms. The Hilton Garden Inn focused-service hotel concept provides amenities which include the Garden Sleep System, Pavilion Pantry, business center, fitness center and a casual restaurant with accompanying bar. The property provides more than 3,400 square feet of meeting and event space with state-of-the-art technology and onsite catering. The Waltham area is easily accessible to the most popular Boston sporting attractions including the Boston Celtics and Boston Bruins at the TD Garden, the Boston Red Sox at Fenway Park and the New England Patriots at Foxboro Stadium.
About Noble Investment Group
Founded in 1993, the Noble organization specializes in making value-added, opportunistic investments in the lodging and hospitality real estate sector. Through its private equity real estate funds, Noble has invested more than $2 billion in upper upscale and upscale hotels located throughout the United States which are affiliated with premium brands by Marriott, Hyatt, Starwood and Hilton. For additional information, please visit www.nobleinvestment.com