When you press Where To you can enter an address. If you want to save the address instead of pressing Go press Save. The address will be saved in favourites. You'll be asked to give it a name and you type in the name you want. The house number and street is usually saved with the name.
You can also save a location when you arrive there by pressing the car icon on the screen. When you press it it asks do you want to save the location. Press yes and it'll ask for a name for it. This way may save a street name as the address but not the whole address. If the location is not on a named road it'll save a Latitude and Longitude of the point. You can select the place in favourites and again instead of pressing GO press EDIT. Change the name to something you will recognise again.
So the answer is you can have the name but not the whole address.
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