The 107-room Residence Inn by Marriott at 219 River Market Ave., in Little Rock, Ark., is under new ownership. NF II/CI Little Rock LLC, an affiliate of Noble Investment Group of Atlanta, bought bought the hotel for $17.5 million, reports Arkansas Business.
The seller was MHG Little Rock RE Ltd., an affiliate of McKibbon Hotel Group Inc. of Gainesville, Ga.
The deal was reportedly financed with a 10-year loan of unspecified value from Wells Fargo Bank of Sioux Falls, S.D.
The six-story project previously had a March 2012 mortgage of $12.6 million held by First Security Bank of Searcy.