Noble Investment Group Acquires the Hyatt Valencia and Santa Clarita Conference Center in Los Angeles County (United States)
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Noble Investment Group Acquires the Hyatt Valencia and Santa Clarita Conference Center in Los Angeles County (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2008-07-09
Acquisition Marks Noble’s Twelfth Value-Add Investment in Current Private Equity Fund
Privately held Noble Investment Group (“Noble”), a leading sponsor of private equity real estate funds and an integrated lodging and hospitality operating and development organization, today announced the acquisition of the Hyatt Regency Valencia located in a planned community within Los Angeles County, California that is ranked among the top 25 places to live in the U.S. by CNN/Money magazine.
The 244-room first class Hyatt Regency Valencia is integrated into the approximately one million square foot mixed-use development, Valencia Town Center, which serves as the community focal point for business, shopping, dining and entertainment in the vibrant Santa Clarita Valley. The Hyatt Regency Valencia is home to the valley’s premier meetings and events venue, the Santa Clarita Conference Center, which features 16,000 square feet of exceptional meeting and event space including three outdoor garden areas overlooking the prestigious Valencia Country Club.
Noble will operate the hotel under a long-term license agreement with Hyatt Hotels Corporation. The investment marks the company’s twelfth acquisition in the Noble Hospitality Fund, LLC, the organization’s current, fully discretionary private equity real estate fund.
“Noble continues to execute our investment strategy to acquire and develop premium branded hotels in top markets throughout the United States where we can add value through a combination of our operating and development core competencies,” said Mit Shah, Noble’s senior managing principal and chief executive officer.
“The acquisition of this first-class hotel in the strong west coast market of Valencia is a great example of Noble’s investment strategy enabled by the strength of our organizational platform as we were able to secure the opportunity, perform real-time due diligence and close the transaction in a total of six weeks,” said Rodney Williams, Noble’s managing principal and chief investment officer. “Our team will now focus on increasing market share, revenue and profitability through the combination of the completion of the planned physical enhancements in conjunction with our process based, balanced scored operational framework.”
The Hyatt’s spacious guest rooms feature upscale amenities and finishes, including the new Grand Hyatt bed, i-home systems, high-speed internet access and majestic views of the surrounding Santa Susana and San Gabriel Mountains. A double-sided fireplace highlights the Hyatt’s outdoor heated swimming pool, whirlpool, and sundeck area, set in an alluring resort style courtyard overlooking a picturesque golf course backdrop. Located in Los Angeles County, the Hyatt Regency Valencia easily accessible to downtown Los Angeles, San Fernando Valley, and Ventura and is only a mile and a half from Six Flags Magic Mountain and Hurricane Harbor Water Park.
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