Noble Investment Group Acquires Aloft Arundel Mills and Element Arundel Mills Hotels.
M2 EQUITYBITES-July 12, 2017-Noble Investment Group Acquires Aloft Arundel Mills and Element Arundel Mills Hotels
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12 July 2017 - US-based private equity real estate fund manager Noble Investment Group has acquired the dual-branded Aloft Arundel Mills and Element Arundel Mills hotels, the company said.
Located in the Baltimore-Washington Metropolitan area and proximate to BWI International Airport and Fort Meade, the hotels opened in 2009 and were renovated in 2015.
The hotels are adjacent to Arundel Mills, the largest upscale retail center in the state of Maryland, and Maryland Live! Casino, one of the largest casino destinations in the United States with more than 260,000 square feet of gaming space.
A prominent corporate centre, the area is home to companies such as General Dynamics, Northrup Grumman, Siemens, CSC, Aerotek and Booz Allen Hamilton.
The Aloft Arundel Mills features 142 guestrooms with amenities such as a 24-hour business center and fitness center, an indoor pool, a self-service car wash and hotel-wide complimentary high-speed wireless internet access.
The Element Arundel Mills features 147 studios and suites, which come with fully-equipped kitchens with a full-sized refrigerator, range top, microwave, and coffee maker.
Since 1993, Noble has specialized in making value-added, 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 USD 3bn in communities throughout the United States, creating thousands of jobs.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jul 12, 2017|
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