Noble Investment Group("Noble") today announced the acquisition of twoArizona hotels, the Windmill Suites Hotel Tucson at theUniversity of Arizona and the Windmill Suites Hotel inPhoenix/Chandler at the Chandler Fashion Center. The two properties will undergo more than$18 million in combined physical improvements and will be rebranded the Homewood Suites Tucson St. Philips Plaza at theUniversity of Arizona and the Hyatt Place Phoenix/Chandlerat the Fashion Center, respectively. The properties are located in highly sought after and affluent markets consistent with Noble's strategy of investing in first class real estate, enhancing the physical space through redevelopment and/or rebranding and then maximizing operational performance.

The soon to be 122-suite Homewood Suites by Hilton Tucson St. Philip's Plaza at theUniversity of Arizona, is located at the base of the Catalina Foothills in St. Philip's Plaza, the regions premier lifestyle development featuring restaurants, shopping, art and photo galleries, professional offices and outdoor entertainment venues.Tucsonis home to nearly 40,000 students who attend theUniversity of Arizona, theUniversity of ArizonaMedical Center and a significant healthcare base. The Homewood Suites brand is the first choice for guests seeking upscale, home-like accommodations when travelling for an extended stay. The property will undergo a more than$9 millionin physical enhancements with new guest suites, the incorporation of the Homewood Suite "Take Flight" lobby concept, new common areas and a completely updated exterior.

The soon to be 129-suite Hyatt Place Phoenix/Chandleris located at the intersection ofPhoenix'stwo major beltways and is adjacent to the Chandler Fashion Center, the most prominent retail offering in the area.Chandleris home to major corporate campuses such as Intel, General Motors, Orbital Sciences as well asArizona State Universityand theArizona State UniversityResearch Park. The Hyatt Place brand is an upscale all-suite property which features a modern innovative design and technologically smart guestroom features.The$8 millioncomprehensive property redevelopment includes the incorporation of the Hyatt Place lobby concept, all new guestrooms, common areas and exterior enhancements.

"These two acquisitions are representative ofNoble's strategy to invest in prominently located urban select service and extended stay hotels affiliated with premium brands," said Noble principal,Ben Brunt."Our ability to physically enhance, reposition, and rebrand these assets will enable us to maximize operating performance and add substantial value to these investments."

About Noble Investment Group

Noble is an award-winning real estate investment manager specializing in the travel and hospitality sector. With a track record spanning three decades, Noble has invested over $6.0 billion in communities throughout the country, adding value across cycles and supporting the significant creation of jobs. PERE has named Noble one of the Top 200 Global Investment Managers, and the firm has been recognized as one of the Best Places to Work by Pensions & Investments and the Atlanta Business Chronicle.

As a fiduciary to institutional investors, including foremost pensions plans, endowments, foundations, wealth management firms, and insurance companies, Noble's endeavors help to preserve and grow our limited partners' capital, which assists in providing retirement benefits for our country's teachers, law enforcement, firefighters, other pensioners, and financial resources for students to attend college. For more information, please visit www.nobleinvestment.com.