Noble Investment Group has purchased the Courtyard by Marriott Indianapolis Fishers as well as the dual-brand Hyatt House & Hyatt Place Indianapolis Fishers in Indianapolis.
Located within the Fishers District - a 150-acre development - the hotels comprise a total of 356 rooms, with Marriott Indianapolis Fishers, Hyatt House Indianapolis Fishers and Hyatt Place Indianapolis Fishers counting 145, 91 and 120 rooms respectively.
Fishers, Indiana is a rapidly expanding market proximate to Indianapolis and has recently seen over $2.0 billion in new development.
The acquisitions follow Noble’s purchase of the 150-key Courtyard by Marriott Jacksonville Beach Oceanfront in August for around $26 million. In January, the real estate investment manager closed its Noble Hospitality Fund V focused on value-added investments in select service and extended stay hotels across the US, raising $1 billion.
What they said
Ben Brunt, Noble's managing principal & chief investment officer said: “Noble is excited to add these new, high-yielding hotels with in-place cash flows to our growing portfolio and capitalize on the region's continued economic expansion.”