We advised Meritage on the joint acquisition of the Holiday Inn & Suites Nashville Downtown – Broadway and the related loan

Davis Polk advised an affiliate of Meritage Group LP in connection with its joint venture with an affiliate of Dreamscape Companies, their acquisition of the Holiday Inn & Suites Nashville Downtown – Broadway from an affiliate of Pinnacle Hospitality Partners.

The Holiday Inn & Suites Nashville Downtown – Broadway is located near the vibrant nightlife of Broadway and within walking distance to many of Nashville’s most popular attractions. The hotel includes 230 guest rooms, a restaurant, a fitness center, an outdoor pool and 8,700 square feet of multi-use space for special events, meetings and banquets.

Meritage Group LP is an investment adviser registered with the U.S. Securities and Exchange Commission with assets under management in excess of $9 billion. Meritage Group LP currently manages both multi-manager and direct investment strategies, the latter of which include public equity, credit, private equity and real estate investing.

Dreamscape is a vertically integrated real estate investment, development and management platform focused on mixed use, residential and hospitality assets. Dreamscape and its predecessor have developed approximately $1.5 billion of assets across its various investments since 2014. Dreamscape currently owns and operates residential and hospitality assets in New York, Miami, Charleston and Las Vegas.

The Davis Polk real estate team included partner Brian D. Hirsch and associates Nicholas Soilleux and Gregory D. Crane. Partner Patrick E. Sigmon provided tax advice. All members of the Davis Polk team are based in the New York office.

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