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Ashford Trust Closes on $146M Sale to Noble

DALLAS—The 1,396-key portfolio includes three properties in the resort community of Lake Buena Vista, FL; it's “a significant first step” in selling the REIT's non-core assets, says CEO Monty Bennett.

By Paul Bubny | paulbubny | Updated on June 02, 2016

A Courtyard By Marriott hotel The Courtyard Orlando Lake Buena Vista is one of three properties in this Florida resort community that have traded to Noble.

DALLAS—Ashford Hospitality Trust said Wednesday it had completed the sale of five select-service hotels to Noble Investment Group. The Dallas-based REIT has also agreed to sell a pair of Palm Desert, CA properties in a separate transaction.

Another hotel REIT advised by Ashford Inc., Ashford Hospitality Prime, had news of its own on Wednesday. In the latest salvo in a proxy battle between Ashford Prime and activist investor Sessa Capital, proxy advisory firm Egan-Jones recommended that the REIT’s shareholders vote for its current slate of directors.

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