{"id":1004270069,"date":"2018-10-08T03:24:22","date_gmt":"2018-10-08T11:24:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004270069"},"modified":"2022-12-08T18:46:27","modified_gmt":"2022-12-09T02:46:27","slug":"new-w-hotel-in-nashville-lands-133m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-w-hotel-in-nashville-lands-133m-financing\/","title":{"rendered":"New W Hotel in Nashville Lands $133M Financing"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"Rendering<\/a>

Rendering of new W Hotel in the Gulch neighborhood of Nashville, Tenn.<\/p><\/div>\n

A joint venture between Magellan Development, Corner Partnership and Hospitality Gaming Advisors has received $133 million in financing to construct a 346-key, 16-story W-branded hotel in Nashville, Tenn.<\/p>\n

Goldman Sachs and Lionheart Strategic Management provided the senior and mezzanine financing, which offers co-terminus initial terms of three years. <\/p>\n

\u201cThis opportunity was attractive because of its location in Nashville, a city that has been experiencing explosive growth not only in terms of resident population, but also in the number of companies from across the country that are relocating there to provide their employees a better quality of life,\u201d <\/em>Billy Jacobs, Lionheart Strategic Management\u2019s CEO, told Commercial Property Executive<\/em>. The development team is world class, with successful experience in hotel operations, the local Nashville culture and downtown development.\u201d<\/em><\/p>\n

The $190 million hotel will be located at 12th Avenue South and Pine Street, and is projected to open in the fall of 2020.<\/p>\n

According to Jacobs, there was substantial interest from the lending community in the opportunity, and it was a very competitive process. <\/p>\n

\u201cLenders recognize the brand value of the W and the exciting growth of the Gulch,\u201d <\/em>he said. \u201cThe W is the most exciting hospitality brand in the U.S. Its hotels cater to the discerning, experience-focused traveler who seeks the highest standard of luxury and exclusive amenities.\u201d<\/em><\/p>\n

Rise of the Gulch<\/strong><\/h2>\n

The Gulch is a former industrial area that has been transformed into Nashville\u2019s premier live-work-play destination. As such, it attracts residents and businesses that want to be a part of the vibrant community, which has also become a tourist destination.<\/p>\n

\u201cWith all of the new businesses and visitors flooding the market, there was a need for a high-end hospitality option and the W will be the first luxury lifestyle hotel in the Nashville market,\u201d<\/em> Jacobs said.<\/p>\n

There\u2019s been a lot of activity in the area. This summer, construction of a 20-story, 329,000-square-foot Class A+ office building<\/a>\u2014the first of a three-phase, mixed-use project in The Gulch neighborhood\u2014began. Hensler Development Group and Stiles Corp. are also proposing a mixed-use project in central Nashville with about 170,000 square feet of Class A office space<\/a> in a five-story building. <\/p>\n

Image courtesy of Lionheart Strategic Management<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Goldman Sachs and Lionheart Strategic Management provided the senior and mezzanine loans for the 346-key, ground-up development in the Gulch neighborhood. <\/p>\n","protected":false},"author":451,"featured_media":1004270075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21751,13,36077,21742],"tags":[33435,38985,35237,38611],"class_list":["post-1004270069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-hotel","category-midwest","category-nashville-knoxville","category-latest","tag-goldman-sachs","tag-hensler-development-group","tag-magellan-development-group","tag-stiles-corporation"],"acf":[],"yoast_head":"\nNew W Hotel in Nashville Lands $133M Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-w-hotel-in-nashville-lands-133m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New W Hotel in Nashville Lands $133M Financing\" \/>\n<meta property=\"og:description\" content=\"Goldman Sachs and Lionheart Strategic Management provided the senior and mezzanine loans for the 346-key, ground-up development in the Gulch neighborhood.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-w-hotel-in-nashville-lands-133m-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-08T11:24:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:46:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Rendering-of-new-W-Hotel-planned-in-the-Gulch-Nashville.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-w-hotel-in-nashville-lands-133m-financing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/new-w-hotel-in-nashville-lands-133m-financing\/\",\"name\":\"New W Hotel in Nashville Lands $133M Financing - 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