NASHVILLE, TN – March 30, 2022 – Twelfth Avenue Realty Holdings, LLC (Twelfth Avenue Realty), today announced it has completed the sale of W Nashville to Xenia Hotels & Resorts, Inc. (NYSE: XHR) (Xenia) for a sales price of $328.7 million or $950,000 per key.
Designed by The Rockwell Group and built by Yates Construction, the luxury lifestyle property opened in October 2021 in the vibrant Gulch neighborhood of Nashville. The concept, programming and design direction of W Nashville was led by hospitality veterans David Tessier and Anna Gomez of Hospitality Gaming Advisors along with local partners Mark Bloom and Larry Papel of Corner Partnership and Chicago-based Magellan Development. The group ran a discreet, off-market process led by Hospitality Gaming Advisors.
“The execution of this sale speaks to the quality, unique design and rich programming behind W Nashville, paired with the unwavering strength of the Nashville hospitality market. We are excited to watch W Nashville continue to thrive under Xenia’s ownership and are grateful to our neighbors and partners for the opportunity to add this special property to Nashville’s dynamic hospitality landscape.” said David Tessier, President, Hospitality Gaming Advisors, and member of Twelfth Avenue Realty ownership group. “This type of ‘trophy property’ in such a key market could not be easily replicated in the near term. This combined with the current unprecedented market conditions resulted in a very quick transaction. Mark Bloom and I started working on this hotel 9 years ago and it has been a labor of love. Even through the pandemic we never compromised on attention to detail, quality of craftsmanship or authenticity. We believe that Xenia is an ideal steward of W Nashville based on their shared values and successful portfolio of uniquely positioned premium hotels and resorts across the United States.”
