An affiliate of Atlanta-based Noble Investment Group recently paid $8.82 million for a 122-room WoodSpring Suites hotel in Newington, according to a deed recorded Jan. 20.
The five-story hotel at 712 Cedar St., built in 2023, was sold by Gold Coast Properties CT 1 LLC, whose principals are Raul and Veronica Garcia of Miami. The 64,304-square-foot property sits on 2.2 acres just off Route 9.
The Newington purchase was part of a broader acquisition of 14 WoodSpring-branded hotels that Noble announced on Jan. 20.
The deal aligns with the real estate management firm’s “branded long-term accommodations” strategy and its continued “deployment of institutional capital across scalable, operating-oriented investments,” according to Noble.
Noble said the recently built hotels it acquired this month are located across a diverse group of high-growth markets. The properties were acquired “meaningfully below replacement cost,” according to the company.
Noble Investment Group focuses predominantly on travel, hospitality and lodging assets and reports approximately $5 billion in assets under management.
