SUGAR LAND, Texas – Noble Investment Group of Atlanta purchased the Hyatt Place Houston/Sugar Land, a 214-room hotel in Sugar Land, Texas.
The Hyatt Place Houston/Sugar Land is located on 3.69 acres at 16730 Creek Bend Drive in Sugar Land at the intersection of Highway 6 and U.S. 59. The hotel, which opened in 2010, has 6,000 square feet of meeting space, round-the-clock food and beverage options, outdoor swimming pool, express check-in and check-out kiosks, complimentary shuttle service and a 24-hour fitness room and business center.
Working on behalf of the borrower, Noble Investment Group, HFF placed the five-year, floating-rate loan with Texas Capital Bank The HFF debt placement team representing the borrower was led by managing director John Bourret and director Colby Mueck.
Founded in 1993, the Noble organization specializes in making value-added, opportunistic investments in the hospitality real estate sector. Through its private equity real estate funds, Noble has invested more than $2.5 billion in upper upscale and upscale hotels located throughout the United States, which are affiliated with premium brands by Marriott, Hyatt, Hilton and Starwood.