Whyhotel Rebrands As Placemakr, Announces Over $90M In Equity Investment
03/15/22, 9:00 AM
Money raised
$90 million
WhyHotel, a tech-enabled hospitality platform and operator, announced the rebrand of its company, now to be known as Placemakr. The rebrand comes alongside $90M in equity investment raised for growth and property acquisitions. In conjunction with these investments, the company also secured committed capital toward its target of $1B of property acquisitions over the next 18-24 months. With $250M of those property acquisitions completed in 2021 and programmatic equity committed to acquire $750M of property, Placemakr is on pace to be one of the largest holders of blended apartment and hotel assets in the United States
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Additional Info
In conjunction with these investments, the company also secured committed capital toward its target of $1B of property acquisitions over the next 18-24 months. In addition to continuing to partner with building developers and investors through property management, the company will look to expand its portfolio of owned properties, like Placemakr Premier SoBro, under this new umbrella. As the company seeks market expansion throughout the remainder of 2022, it continues to engage in new partnerships with real estate firms for growth. Its tech-enabled operating platform allows the company to blur the line between hospitality and home, delivering the best experiences of both in a single building.