Noble and Simon Open Homewood Suites by Hilton Edina Minneapolis

Atlanta and Indianapolis – September 18, 2018 – Noble Investment Group (“Noble”), and Simon®, a global leader in premier shopping, dining, and mixed-use destinations, (NYSE:SPG), announces the opening of the Homewood Suites by Hilton Edina Minneapolis, located in the heart of Edina as part of Southdale Center’s mixed-use complex.

The hotel is proximate to the corporate headquarters of major employers such as Best Buy, Dairy Queen, United Health, General Mills, and Regis Corporation, and hospitals, including the renowned Methodist Hospital and Fairview Hospital. The Homewood Suites by Hilton Edina Minneapolis is less than ten miles from downtown Minneapolis and the Minneapolis-St. Paul International Airport.

“Southdale Center is home to a thriving retail and residential area, and the addition of this stunning hotel will enhance the vibrancy of our city and particularly the vitality of the Southdale District,” said Mayor Hovland. "The Edina community is looking forward to welcoming the Homewood Suites.”

Homewood Suites by Hilton Edina Minneapolis is just one of many recent enhancements at Southdale Center. One Southdale Place, a 232-unit luxury apartment development, opened in 2015 to rave reviews. Shake Shack will debut this fall and popular home furnishing retailer RH opens next year. Future plans include the opening of a three-story Life Time® athletic resort complete with healthy lifestyle programs and entertainment, a rooftop pool and beach club, Life Time Work shared workspaces and a Life Time Sport organized pick-up play complex.

"The opening of this terrific hotel represents the latest phase of our redevelopment of the Southdale mall complex,” said Michael E. McCarty, Chief Operating Officer of Simon Malls. "Our ‘densification’ program has been very successful and we are excited about future development at this historic property.”

The Homewood Suites by Hilton Edina Minneapolis features 146 studio and one-bedroom suites each with separate living and sleeping areas and a fully-equipped kitchen. The hotel offers complimentary Wi-Fi, a 24-hour business center, a state-of-the-art fitness center with an indoor heated pool, a lobby bar, and an outdoor courtyard complete with fire pit and grill. Guests can enjoy numerous complimentary amenities including a hot breakfast, drinks and snacks at a nightly evening social Monday through Thursday, as well as additional food and drink options from the 24-hour Suite Shop®. The hotel also offers more than 600 square feet of multi-function meeting and board room space.

The Homewood Suites brand has quickly grown to nearly 450 locations in the United States, Canada, and Mexico, and has been recognized as the “Top Extended Stay Hotel” by JD Power and Associates.

"We are proud to bring this all-suite hotel to the City of Edina,” said Scott Eisenach, the hotel’s general manager. "Being an important piece of Southdale Center’s mixed-use complex as well as being close to the headquarters of numerous corporations, makes this location an excellent value for both the business and leisure traveler with amenities that help them feel at home whether for a night or extended stay.”

For more information please call (952) 926-0224 or visit homewoodsuites3.hilton.com. The Homewood Suites by Hilton Edina Minneapolis a joint venture between Noble Investment Group and Simon Property Group and managed by Concord Hospitality.

About Homewood Suites

Homewood Suites® is an upscale, extended-stay hotel brand offering spacious one and two-bedroom suites with a full kitchen and refrigerator. Free, hot breakfast is served daily, along with a complimentary evening social*. Designed with the extended-stay traveler in mind, the hotel’s amenities are meant to provide the guests all the possible comforts of home. With nearly 450 locations throughout North America, the Homewood Suites brand has become recognized as one of the leaders in the extended stay lodging industry and has received multiple industry awards for excellence in the segment. To learn more, visit www.homewoodsuites3.hilton.com.

About Hilton Hotels

Hilton Worldwide Holdings, Inc. (NYSE: HLT) is one of the largest and most successful lodging franchisors in the world. As the most recognized name in the industry, travelers all over the world have been saying “Take me to the Hilton” for almost a century. Due to the innovative approach to products, amenities and service, Hilton continues to be synonymous with hotel across the globe. Hilton Hotels & Resorts remains the stylish, forward thinking global leader of hospitality – and helps make traveling easier with their smart design, innovative restaurant concepts, authentic hospitality and commitment to the global community. For more information, visit www.hilton.com.

About Noble Investment Group

Since 1993, Noble has specialized in making value-add, opportunistic and income investments in upscale select service and extended-stay hotels affiliated with Marriott, Hyatt, Hilton and Intercontinental. Through its private equity real estate funds, Noble has invested more than $3 billion in communities throughout the United States, creating thousands of jobs. As a fiduciary to state pensions, university endowments and foundations, Noble’s endeavors help to preserve and grow our limited partners’ capital which provides retirement benefits for millions of our country’s teachers, policemen and firefighters as well as financial resources for students to attend college. For more information, please visit www.nobleinvestment.com.

About Simon

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe, and Asia provide community gathering places for millions of people every day and generate billions in annual sales. For more information, visit simon.com.

About Southdale Center

Southdale Center is the nation’s first indoor regional shopping mall. The center, which opened in 1956, is anchored by Macy’s. Southdale includes more than 120 specialty stores ranging from women's apparel to gifts and jewelry. Among the 120 specialty stores are Michael Kors, Madewell, Brighton Collectibles, J. Crew, Francesca’s Collections, Sephora, Coach, and The Apple Store. The mall also features a wide variety of sit-down and grab-and-go dining options, and includes a full-service movie theater, AMC Southdale 16. Located off of 66th Street and France Avenue in Edina, Southdale serves the Twin Cities metro area. For more information, visit simon.com/mall/southdale-center.

About Concord Hospitality Enterprises Company

As an award-winning hotel development, ownership and management company, Concord Hospitality Enterprises Company has spent the last three decades building relationships with investors, partners, and third-party hotel owners on more than $2.5 billion in premium-branded properties across the United States and Canada. As an operator, Concord Hospitality instills value from the ground up, developing and managing with a sustainable viewpoint, a focus on quality and hands-on involvement to ensure long-term profitability and success. Concord Hospitality believes that its people are its greatest strength. With the brightest talent, the most innovative processes and a commitment to giving back to the communities where associates live and work, Concord Hospitality is committed to be a great place to work for all. Learn more at concordhotels.com.

Forward-Looking Statement

This communication includes "forward-looking statements" about future events, including anticipated hotel openings. Such statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing and the other "Risk Factors" described in our Annual Report on Form 10-K, any of which could cause actual results to be materially different from our expectations.