NeueHouse locks in $30 mln


NeueHouse, a private cultural and collaborative space for prominent creatives, artists and entrepreneurs, has raised $30 million in funding. The investors were the Diller-von Furstenberg Family Office, Gaw Capital and Revolt Ventures.

PRESS RELEASE

NEW YORK – November 27, 2018 – NeueHouse, a private cultural and collaborative space for prominent creatives, artists and entrepreneurs, today announced the appointment of Josh Wyatt as Chief Executive Officer. Under his leadership and in close collaboration with Gil Weisblum of the Diller-von Furstenberg Family Office, NeueHouse recently closed a $30 million round of growth funding led by an investment vehicle of the Diller-von Furstenberg Family Office alongside new strategic investors Gaw Capital and Meyer Bergman’s Revolt Ventures.

This most recent round of funding will allow NeueHouse, currently at capacity with waitlists at both flagship locations in New York and Los Angeles, to scale its platform and invest further into its existing operations and programming. Near-term expansion will include two new locations in Los Angeles (Venice and Downtown), with longer-term ambitions for further openings in New York City as well as new sites in San Francisco, Toronto, Miami, Washington DC, Austin, Nashville, Seattle, Portland and other key North American cities.

Josh Wyatt, newly appointed Chief Executive Officer of NeueHouse, said, “The NeueHouse brand is a potent growth engine living at the intersection of the real estate, hospitality, industry brand and digital worlds. Our vision at NeueHouse is to redefine the way creatives, artists and entrepreneurs work, collaborate, socialize and discover with design-driven spaces, cultural programming and unparalleled hospitality. As I step into my role, I’m doubling down on this vision to enhance our offering and scale our boutique platform to better serve our members wherever they may be. We are grateful to our partners at the Diller–von Furstenberg Family Office, Gaw Capital and Meyer Bergman’s Revolt Ventures, who are a perfect strategic fit for our business and whose collaboration and counsel will be invaluable as we embark on this next chapter for NeueHouse and its members.”

Wyatt previously served as the President of Equinox Hotels, helping to launch Equinox Hotels. Prior to his role at Equinox, Wyatt was the Co-Founder and Chief Strategic Officer of Generator Hostels, an award-winning global brand, which was first-of-its-kind to offer upscale, design-focused hostel accommodations. Responsible for creating and leading Generator’s vision, global growth, design and brand strategy, he helped refashion the business into a global platform, with Generator selling for $550 million in May 2017.

Gil Weisblum, Senior Managing Director of the Diller–von Furstenberg Family Office and Co-Chairman of the NeueHouse Board of Directors, said, “Because we invest in leaders, not just businesses, our board spent considerable time undertaking a thorough search to find the right person to lead the growth of NeueHouse. Josh’s success in scaling platforms coupled with his credentials in hospitality and design made him the ideal candidate for this role. NeueHouse and its investors share a defined purpose, passion and focus. Together, we will help scale NeueHouse’s differentiated brand proposition to better meet the growing demand among creative entrepreneurs and disruptive businesses and brands for flexible, elevated and inspiring work spaces.”

Goodwin Gaw, Chairman of Gaw Capital, said, “NeueHouse is singularly capable of activating spaces and has generated a creative energy in its spaces that’s hard to replicate. We seek to back investment opportunities with this definitive angle within real estate, design and programming.
In the case of NeueHouse, this combination has enabled it to drive accretive earnings per square foot as compared to the wider office and shared workspace players. By investing in its growth, we will drive higher yield and provide greater opportunities for property owners, developers and landlords struggling to keep pace with the new economy and seeking better ways to activate their spaces.”

About NeueHouse
NeueHouse is the ‘home of the new’ – new ideas, new people, new conversations and new experiences. It’s a place where creatives, artists and entrepreneurs come together to push culture forward and create the new. The NeueHouse creative system sits at the intersection of culture and commerce – underpinned by the unique confluence of elevated design-driven spaces, thought-provoking cultural programming and experiences, and unparalleled hospitality and creative resources. These all combine to inspire a creative and curious mindset, foster new connections and provide the stage for cultural experiences. The NeueHouse membership currently comprises a prominent collective of creators across two locations in New York and Los Angeles.

About Gaw Capital
Gaw Capital Partners is a uniquely positioned private equity fund management company that focusing on real estate markets in high barrier-to-entry markets globally. Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with own in-house asset management operating platforms in retail, hospitality, property development and logistics. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses. Gaw Capital has raised five commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund and also provides services for separate account direct investments globally. Gaw Capital has raised equity of USD$ 9.8 billion since 2005 and commands assets of USD$ 18.3 billion under management as of Q2 2018.

About Ranger Capital Advisors
Ranger Global Advisors is an investment vehicle of the Diller-Von Furstenberg family office focused on opportunistic value-based investing. The firm currently manages over $1 billion in assets.

About Meyer Bergman
Meyer Bergman is a privately held investment management firm specializing in mixed-use properties serving urban environments across leading European and U.S. markets. Advising three value-add funds with assets of more than €5 billion on behalf of global institutional investors, Meyer Bergman targets under-managed and under-utilized assets, creating value through repositioning and optimizing property concepts for rapidly evolving consumer and occupier requirements. Investments are actively managed throughout their lifecycle to deliver attractive returns to investors, including leading pension funds, sovereign wealth funds, endowments and asset managers. Meyer Bergman also provides growth capital for emerging companies driving disruption resulting from the convergence of the real estate, media, technology and retail sectors through its venture platform, Revolt Ventures. For additional information, please visit meyerbergman.com and revolt.com.

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