Noble invests in markets throughout the United States which have historically stable demand most often generated by major universities, medical centers and a diverse corporate presence. Noble’s strategy is to enhance a “B“ asset in an “A” location by reconfiguring and upgrading the physical product and optimizing the brand. This approach allows the organization to maximize revenue market share and operating margins, increase profitability and maximize asset value by creating a “core-like” yield.

Alignment

Noble principals co-invest their own capital alongside our investors in each of our private equity real estate funds, creating an alignment of interests and an incentive to perform. Since 1993, Noble has generated superior risk-adjusted returns for our investment partners who currently include state pension plans, university endowments and foundations.

Sourcing Advantage

Noble has developed three decades of relationships within a fragmented industry of private owner-operators of hotels as well as non-specialized lodging investors and maintains a comprehensive list of targeted assets and markets along with brand availability by sub market. Through our ongoing, pro-active dialogue with owners, lenders and advisors, Noble has been successful in sourcing direct investment opportunities. Noble is identified by lodging brokers and advisors as the go-to organization for assets that "need to be fixed" and maintains valuable partnerships with leading brands that has provided material investment opportunities for the organization.

Operators not allocators

Noble's operational asset management and administration teams strategically select each of our hotel based general managers and director of sales and are responsible for the operational performance of our assets. Our operating teams then share in the success of their assets performance through participation in our carried interest pool and therefore, are motivated and aligned to run our hotels as an entrepreneurial, street corner business. Noble’s asset management team has regular on-site visits with our property teams to review market intelligence and demand generators for pricing opportunities. Noble's business intelligence system provides real-time data feeds from each of our hotels where we analyze metrics on a daily, weekly and monthly basis to mitigate risk and optimize performance. Our ability to shift strategy based on leading metrics and market trends allows us to capitalize on revenue opportunities and protect the integrity of our financial results.

Adding Value to Real Estate

Noble's project development team leads the planning, programming, design, budgeting, construction management, procurement and realization of complex lodging development, re-development and conversion projects. The Noble team has successfully worked together to execute more than $1.5 billion in projects costs by working every project detail to the best possible outcome at the least possible cost in the shortest amount of time in order to enhance operational performance and effectively grow yield.

Private Equity Real Estate Funds

FUND I

Noble Investments, LLC ("FUND I") closed in 1999 with approximately $40 million in equity including Noble principal commitments. Fund I is fully invested and is fully realized.

FUND II

Noble Parallel Fund, LLC ("FUND II") closed in 2003 with $182 million in equity and co-investments including Noble principal commitments. The Fund II investment platform was a value-added strategy focused on lodging acquisitions, re-developments and strategic new developments with a primary focus on top 50 MSA’s in the United States. Fund II is fully invested and is substantially realized.

FUND III

Noble Hospitality Fund, LLC ("FUND III") closed in 2007 with $310 million in equity including Noble principal commitments. The Fund III commitment period was originally three years but was extended to five years as Noble did not make an investment from May of 2008 through April of 2010. The Fund III investment platform was a value-added strategy focused on lodging acquisitions, re-developments and strategic new developments with a primary focus on top 50 MSA’s in the United States. Fund III is fully invested and is substantially realized.

FUND IV

Noble Hospitality Fund II, LLC ("FUND IV") closed in 2013 with $220 million in equity including Noble principal commitments. The Fund IV commitment period is two years and its value-added strategy is focused on lodging acquisitions, re-developments and strategic new developments with a primary focus on top 50 MSA’s in the United States. Fund IV is fully invested alongside an additional $40 million in LP co-investments. Fund IV is fully invested and partially realized.

FUND V

Noble Hospitality Fund III, LLC ("FUND V") closed in 2015 with $233 million in equity including Noble principal commitments. The Fund V commitment period is two years and its value-added strategy is focused on lodging acquisitions, re-developments and strategic new developments with a primary focus on top 50 MSA’s in the United States. Fund V is currently being invested alongside an additional $37 million in LP co-investments