The Courtyard by Marriott Jacksonville Beach Oceanfront at 1617 First St. N. in Jacksonville Beach sold Aug. 1 for $26.09 million.
The buyer was Noble Investment Group of Atlanta through NF V Jax Beach LLC.
The seller was Shaner Hotel Group of State College, Pennsylvania, through Shaner Jacksonville LLC.
Noble Investment Group took out a $30.14 million loan from Wells Fargo Bank.
The seven-story hotel, built in 1968, is on 1.98 acres. The building is 92,764 square feet. It is 0.8 miles south of the Jacksonville Beach Pier.
The hotel has 150 guest rooms, many with balconies and ocean views. It has a heated pool, bar, restaurant and fitness center.
“The greater Jacksonville market continues to exhibit the key macro trends we look for in cities that we believe will continue to outperform the broader economy,” said Dustin Fisher, Noble’s senior vice president, in a news release.
“This high-quality asset will undergo a meaningful upgrade, enabling the hotel to capitalize on the market’s depth and breadth of leisure, healthcare, corporate, and government demand.”
The guest rooms, suites, public areas and event spaces will be revamped. Work is expected to begin in the second half of 2025 and continue into 2026. The hotel will remain open during the renovations.
Noble Investment Group also owns the Hilton Garden Inn Jacksonville Ponte Vedra Sawgrass, according to a company spokesperson. It is in the Sawgrass Village Shopping Center.
Shaner Hotel Group bought the hotel in 2014 for $11.152 million.