Noble Investment Group Acquires Renaissance Reno Downtown Hotel From Fernando Leal For $37.4M

The property involved in this transaction is the 214-room Renaissance Reno Downtown Hotel located at 1 Lake Street, Reno, NV. The hotel features amenities such as a pool, spa, fitness center, bar, restaurant, conference facilities, and outdoor seating. The asset was sold for $37,400,000.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $37,400,000
• Address: 1 Lake Street
• Market: Reno, NV
• Buyer: Noble Investment Group
• Seller: Fernando Leal
• Keys: 214
• PPK: $174,766

Noble Investment Group acquired the property from a group led by Fernando Leal. Leal had purchased the hotel in 2015 for $10,400,000. The hotel was built in 1956 and was formerly partially a casino.