Noble Investment Group has acquired a 35-asset Sonesta Simply Suites portfolio from Sonesta totaling more than 4,000 rooms across 19 states and 25 markets. The properties are concentrated in the Sun Belt and corporate-demand markets, and will shift from a brand-managed structure to a franchised model.
Noble said the portfolio is immediately accretive, supported by strong occupancy, stable cash flow and an attractive basis relative to replacement cost. “These fundamentals present a structural opportunity for Noble to acquire at compelling yields, unlock performance through operational alpha and deliver stable distributions while compounding long-term growth,” said Ben Brunt, chief investment officer, Noble. “This portfolio directly advances that strategy and adds meaningful scale to our platform.”
Seyfarth Shaw’s hospitality group advised Noble on the transaction. The deal was led by Atlanta partners Tom Gryboski and Catherine Morgen.
“This transaction is a strong example of how our hospitality platform helps clients execute complex multi-jurisdictional portfolio deals,” said Morgen. “Coordinating 35 assets totaling more than 4,000 rooms across 19 states and 25 markets, franchise arrangements and an operator transition requires deep sector experience and an integrated team across real estate, corporate and financing to deliver a structure that supports both operational efficiency and long-term value creation.”
“From a hospitality perspective, this portfolio is well-positioned to benefit from the shift to a franchise model,” said Gryboski. “Our team focused on aligning brand, management and ownership interests across all 35 properties for scaling efficiently while preserving flexibility at the asset level.”
Noble understands extended stay which is the key to these assets performing optimally. Sonesta offers some of the lowest franchise and management fees in the industry , but there still should be efficiencies as an owner/operator.