>ATLANTA – Armed with an expansion plan, Noble Investment Group has acquired the 126-room Holiday Inn Charleston Historic District and an adjacent parcel to add 50 guestrooms and 2,500 square feet of meeting space to the hotel. In 2011, the hotel will be re-branded as a 176-key Courtyard by Marriott Charleston Historic District with 5,000 square feet of meeting space.
Bill Moeckel of Moeckel & Co. advised the seller on the transaction. Located on the Charleston Peninsula, the hotel has been named a “Best Hidden Gem” by Trip Advisor.
The privately held company is focused on acquisitions with value-add opportunities in markets with high barriers to entry and the ability to reposition or re-brand the asset, according to Rodney Williams, chief investment officer and managing principal of Atlanta-based Noble Investment Group.
Embracing its Southern heritage, the hotel features wooden rocking chairs on the porch, a landscaped courtyard and water fountain, year-round outdoor heated pool, fitness center and the Battery Grill restaurant.