NASHVILLE, Tenn. and WASHINGTON, Nov. 4, 2021 /PRNewswire/ -- WhyHotel, a hospitality platform and operator, today announced that it has acquired The Cadence, a Nashville property located at 1600 McGavock Street. With the acquisition, WhyHotel will launch its first Hospitality Living property in the city - The Cadence, Operated by WhyHotel. In partnership with Gaw Capital USA, this location joins the growing list of properties under WhyHotel's Hospitality Living umbrella, which blurs the lines of home and hospitality by providing guests with the comforts of a home-like space, blended with the convenience of a traditional hotel experience. With both long-term and nightly stays available, The Cadence, Operated by WhyHotel is welcoming long-term guests this November, and will welcome transient guests in January 2022.
"Nashville is an incredible city and, not surprisingly, has been growing at a breakneck pace as more and more people discover everything it has to offer. From a hospitality standpoint, it also has that perfect blend of business and leisure drivers. We're excited to launch, in the dynamic Midtown neighborhood, a new type of accomodation that meets our customers where they are," said Jason Fudin, CEO and Co-founder of WhyHotel. "No matter the reason or length of the stay, customers will find what they're looking for in The Cadence, Operated by WhyHotel."
Located in Midtown Nashville, the property offers guests an unmatched opportunity to access all of the attractions that the vibrant city has to offer. Less than a mile from Music Row, The Gulch, West End, Hillsboro Village, Centennial Park, and Vanderbilt University, there is no shortage of entertainment for both long- and short-term visitors to experience. Beyond location, the property offers amenities such as a pool, lounge area, gym, courtyard, and more. Each unit in the building has all of the comforts of home, including a full walk-in closet, washer and dryer, and state-of-the-art kitchen, providing immense value and space beyond a traditional hotel room.
Gaw Capital USA has a track record of employing innovative strategies in its real estate investments in the United States. This location represents its first partnership with WhyHotel and its first investment in the Nashville market. Alongside Gaw Capital USA, WhyHotel secured the acquisition loan for the property from Värde Partners. WhyHotel is proud to work alongside these trusted partners to bring the Hospitality Living concept to The Cadence.
WhyHotel continues to expand the footprint of its flexible living solutions and looks forward to announcing additional locations and new metro debuts throughout the remainder of the year and beyond. To learn more about WhyHotel and its other locations across DC, New York, Miami and more, please visit: www.whyhotel.com.
WhyHotel is a hospitality platform and operator with a focus on apartment-style buildings. Its Flex Platform allows real estate owners to blur the line between hospitality and home, delivering the best products to guests and travelers alike in single buildings. WhyHotel's curated spaces in hand-picked neighborhoods can either be booked like a hotel for one night or more, or the spaces can be leased for a couple months or a couple years. For more information, visit www.whyhotel.com.
ABOUT GAW CAPITAL USA
Gaw Capital USA is a uniquely positioned investment firm providing private equity real estate fund management and separate account management services. The firm pursues a value-driven investment strategy, specializing in adding strategic value to under-utilized real estate through redesign and re-positioning. The firm invests across a number of real estate sectors, including development, office, retail, and hospitality, with a focus on major knowledge and innovation markets. As of Q2 2021, Gaw Capital USA holds over $2 billion of assets under management.
ABOUT VÄRDE PARTNERS
Värde Partners is a leading global alternative investment firm with roots in credit and distressed. Founded in 1993, the firm has invested $80 billion since inception and manages $14 billion on behalf of a global investor base. The firm's investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde employs more than 300 professionals worldwide with offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe. For more information, please visit www.varde.com.
North 6th Agency for WhyHotel
SOURCE WhyHotel / North 6th Agency