Paceline Equity Partners Fully Realizes Its Investment in the Renaissance Dallas at Plano Legacy West Hotel

DALLAS--(BUSINESS WIRE)--Affiliates of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced the sale of the Renaissance Dallas at Plano Legacy West Hotel (“Renaissance Plano” or the “Hotel”), a 308-key, full-service, upscale hotel in the Legacy West development in Plano, Texas.

Paceline and its joint venture partner, Aravest, acquired Renaissance Plano in June 2023 with assumable, fixed-rate financing. Together, the partnership successfully developed and executed a strategy that added additional guest rooms, reconfigured food and beverage outlets, and captured growing corporate demand from Legacy West, driving growth in room revenue, food and beverage revenue, and net operating income.

“Our investment in Renaissance Plano reflects Paceline’s opportunistic approach to real estate. We bought a high-quality, recently built hotel at a time when capital for hospitality was scarce, successfully completed our asset management plan, and sold when the market returned for the asset,” said Sam Loughlin, Chief Executive Officer of Paceline. “This realization reflects our ability to source attractive real estate opportunities in any market environment and execute alongside an experienced operating partner.”

“Renaissance Plano is a good example of how we underwrite and manage assets,” added Leigh Sansone, Chief Investment Officer of Paceline. “We acquired Renaissance Plano at an attractive basis and executed a focused operating plan that added keys and grew cash flow. That strong cash flow, supported by favorable fixed-rate financing, allowed us to return a meaningful amount of our invested equity prior to exit, and we ultimately realized the investment a year ahead of our underwritten exit. We are pleased with the outcome for our investors and our partner.”

CBRE Hotels served as exclusive advisor and King & Spalding served as legal counsel to Paceline on the transaction.

About Paceline Equity Partners
Paceline is a Dallas-based private equity manager focused on value-oriented, opportunistic, and special situations investments across corporate credit, private equity, and real assets. Paceline's senior leadership team has worked together for nearly 20 years and manages approximately $1.7 billion in equity commitments on behalf of a global investor base. To learn more, please visit www.pacelineequity.com.