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US: Real estate firm Noble Investment Group has acquired a 35-asset portfolio of extended-stay hotels, expanding its branded long-term accommodations platform with extended-stay hotel brand Sonesta Simply Suites.
The portfolio comprises 35 Sonesta Simply Suites properties, totalling more than 4,000 rooms across 19 US states and 25 markets. Noble said the assets are concentrated in high-growth Sunbelt locations and markets with strong corporate demand.
The company said the acquisition was immediately accretive, supported by in-place occupancy levels and stable cash flow. Financial terms of the transaction were not disclosed.
Ben Brunt, chief investment officer at Noble, said the portfolio aligns with the firm’s strategy to acquire extended-stay assets at attractive yields and drive performance through operational improvements.
Noble said the deal builds scale within its long-term accommodations strategy, which is focused on markets with durable demand drivers and limited new supply. The segment has benefited from broader trends including workforce mobility and housing affordability pressures.
Over the past 12 months, Noble has invested in more than 100 assets across 62 markets nationwide. The firm said its portfolio is concentrated in locations with long-term demand visibility and institutional liquidity.
Noble was advised on the transaction by Seyfarth Shaw’s hospitality group.
Highlights
- Noble acquired a 35-property Sonesta Simply Suites portfolio in the US.
- The deal adds more than 4,000 extended-stay rooms across 25 markets.
- Assets are concentrated in Sunbelt and corporate-demand locations.
- The acquisition expands Noble’s branded long-term accommodations platform.
