Noble Investment Group today announced the acquisition of the Hilton Garden Inn Boise | Downtown, capping more than $1.0 billion of investment activity over the past year.
Boise is the Pacific Northwest’s third most populous region behind Seattle and Portland, known for its combination of urban lifestyle and outdoor adventure. The city is rapidly growing due to its affordability and quality of life, ranking No. 1 on Indeed’s list of cities with the fastest job growth and among Forbes list of Fastest-Growing City in America. The city is home to three Fortune 500 companies, Albertsons, Inc., Boise Cascade, and Micron Technology Inc., as well as numerous corporate headquarters, including the Simplot World Headquarters, one block from the hotel.
Downtown Boise is a vibrant, walkable district with nearly four million square feet of office space, more than one hundred shops and restaurants, and art and history museums. The hotel is located in the heart of downtown Boise, providing easy access to the city’s numerous leisure and business demand generators, including the Idaho State Capitol, Boise State University, Jack’s Urban Meeting Place, Idaho Central Arena, and the Boise Centre.
“The Boise market demonstrates the key macro trends we are looking for in cities which we believe will outperform as we enter a new lodging cycle,” said Dustin Fisher, Noble’s senior vice president. “This acquisition aligns with our strategy to acquire high-quality, well-located assets in growth markets poised to benefit from the ongoing recovery in travel.”
Founded in 1993, Noble is a leading real estate investment manager with a diverse team specializing in the upscale U.S. lodging sector. Through its institutional real estate funds, Noble has invested nearly $6.0 billion in communities throughout the country, adding value across cycles and creating thousands of jobs. As a signatory to the UNPRI, the CEO Action for Diversity & Inclusion, and a fiduciary to foremost pensions plans, endowments, and foundations, Noble’s endeavors help to preserve and grow its limited partners’ capital, which assists in providing retirement benefits for our country’s teachers, law enforcement, firefighters, other pensioners, and financial resources for students to attend college. For more information, please visit www.nobleinvestment.com.