Noble Investment Group Caps Oversubscribed Hospitality Fund at $220 Million

Noble Investment Group ("Noble"), one of the most experienced lodging and hospitality real estate investment firms in the U.S., is pleased to announce the successful final closing of its most recent dedicated hospitality investment fund. Noble Hospitality Fund II was significantly oversubscribed and exceeded its cap with $220 million of equity commitments from prominent state and corporate pension plans, leading university endowments and foundations, fund of funds and the principals of Noble.

Approximately seventy-five percent of the capital for Noble Hospitality Fund II was committed by repeat investors and those with a long term relationship with the firm. Noble Hospitality Fund II has a two-year commitment period.

"We remain grateful for our investors' continued trust and confidence in our Noble team and the differentiated value-creation strategy we have been successfully pursuing since 1993," commented Mit Shah, Noble's chief executive officer and senior managing principal. After making no new investments from May of 2008 through April of 2010, Noble has strategically increased its investment activity. In 2012, Noble fully invested their most recent hospitality real estate fund which had a three-year commitment period and $310 million in equity commitments. During the past twelve months, Noble has acquired or opened ten hotels representing approximately $300 million in investments.

"We have been actively investing our new fund since the third quarter of last year and we will continue to utilize our exceptionally strong relationships throughout the lodging industry to source opportunities as well as our internal core competencies to execute our investment strategy," added Rodney Williams, Noble's chief investment officer and managing principal.

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.