GE Capital’s Franchise Finance (GEFF) business announced today that it
has provided an $18.5 million term loan to Noble Investment Group, LLC,
to acquire the SpringHill Suites Miami Airport South location.
Positioned in the heart of the Blue Lagoon office park, the 150-room
SpringHill Suites overlooks a lake and caters to multi-national
companies doing business in Miami.
Founded in 1993, Noble has invested approximately $2.5 billion in
primarily upscale select service and extended-stay hotels throughout the
U.S. The organization currently owns 52 hotels in 19 states. Its
representative brands include Marriott, Hyatt, Hilton, InterContinental
Hotels Group (IHG) and Starwood.
“Throughout the two decades since we were formed, we’ve been careful to
work with lenders who really understand the hospitality industry,” said
Noble principal Adi Bhoopathy. “Noble and GE Capital began doing
business in 1994, and we continue to value the firm’s expertise and our
financing relationship."
“The hospitality industry is definitely enjoying an upswing right now,”
said Jim Petty, senior vice president responsible for hospitality
financing in the Southeast at GEFF. “We’re pleased to build on our long
relationship with the team at Noble, who have a sophisticated long-term
investment strategy.”
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the U.S. franchise
finance market via direct sales and portfolio acquisitions. With more
than 30 years of experience and over $7 billion in served assets, it
provides financing to more than 2,000 customers and 14,000 properties.
The business specializes in financing mid-market operators with multiple
stores in the restaurant and hospitality industries. Its team of
industry experts helps them realize their individualized growth plans.
GE Capital, Franchise Finance customers also receive access to its
proprietary industry research and cutting-edge digital tools. For more
information, visit http://www.gefranchisefinance.com
or follow company news via Twitter (https://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
Copyright Business Wire 2014