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Goldman Sachs, Lionheart Strategic Management Provide Financing for 346-Key Hotel in Nashville

Corner Partners Secures $133 Million for Construction of W Nashville
October 5, 2018
Rendering of the 346-key W Nashville.

Corner Partnership secured $133 million in financing for the ground-up construction of W Nashville, a 346-key hotel in downtown Nashville.

Goldman Sachs and Lionheart Strategic Management provided the senior and mezzanine financing, which will have co-terminus initial terms of three years, on behalf of the borrower.

Part of Marriott International, the W-branded hotel is slated to rise 16 stories on about 1.3 acres at 306 12th Ave. South. Plans for the structure call for 13,500 square feet of meeting and event space, a state-of-the-art fitness center with a yoga lawn and a pool.

W Nashville is set to join more than 50 W Hotels now open globally, including the recently opened W Brisbane, W Amman, W Panama and W Shanghai - The Bund. W Hotels is on track to have 75 hotels globally by the end of 2020, according to its website.

“The new W Hotel will be a great addition to the Gulch, one of the most vibrant and sought-after neighborhoods in Nashville, and we are pleased to play a role in its development,” said Winston Fisher, chairman of Lionheart Strategic Management, in a statement.

The hotel was designed by architecture firm Rockwell Group and is being developed by a partnership of Magellan Development, Corner Partnership and Hospitality Gaming Advisors. The project is slated to deliver by the fourth quarter of 2020.

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