Paceline Equity Partners Sells 308-Key Renaissance Dallas at Plano Legacy West Hotel

Affiliates of Paceline Equity Partners, LLC, a Dallas-based private equity manager, announced Nov. 4 the sale of the Renaissance Dallas at Plano Legacy West Hotel, a 308-key, full-service, upscale hotel in the Legacy West development in Plano, Texas. The sale fully realizes the firm's investment in the property, which it acquired in June 2023.

Paceline Equity Partners Exits Plano Hotel Ahead of Schedule

Paceline Equity Partners completed the exit roughly a year ahead of the underwritten timeline. The sale was made by affiliates of Paceline and its joint-venture partner, Aravest. Host Hotels & Resorts acquired the hotel, along with 1 Hotel Brooklyn Bridge.

The hotel, also referred to as Renaissance Plano, is located at 6007 Legacy Drive in Plano.

Acquisition Strategy and Business Plan

Paceline acquired the property in June 2023 during a period of constrained hospitality capital, using assumable, fixed-rate financing. The firm said it bought a recently built, high-quality hotel at an attractive basis when hospitality financing was scarce, and that it sold after the market returned for the asset.

The business plan included adding guest rooms, reconfiguring food-and-beverage outlets and capturing corporate demand from the surrounding Legacy West development. Paceline said those initiatives increased room revenue, food-and-beverage revenue and net operating income. The hotel stands at 308 keys at sale, up from 304 rooms described in the firm's earlier portfolio materials.

Paceline said the fixed-rate, assumable debt supported cash flow and allowed the partnership to return a meaningful amount of invested equity before the sale.

Property and Location Details

The Renaissance Dallas at Plano Legacy West Hotel was built in 2017 in connection with the completion of Legacy West, a more than $2 billion mixed-use development that includes luxury retail, apartments, restaurants and Class A office space. The hotel offers approximately 35,000 square feet of meeting space and a dedicated 474-space parking garage.

The property is within 1.5 miles of regional headquarters for J.P. Morgan, Toyota and Dr Pepper/Snapple, giving it exposure to corporate travel alongside leisure demand generated by the development's retail and dining offerings.

Market Context

The sale reflects an improved hospitality capital market compared with the period in which Paceline Equity Partners acquired the asset. Newer, branded hotels in mixed-use, employment-rich locations such as Legacy West offer buyers a relatively modern physical plant, the Marriott-affiliated Renaissance brand and substantial meeting facilities.

The transaction follows other recent announcements from Paceline, including the full realization of its investment in Kelso Industries and the ranking of Paceline Equity Partners Opportunity Fund II LP at No. 5 among Bloomberg's top 10 buyout funds in the $500 million to $1 billion category by net IRR in its second-quarter 2026 global private funds league tables. The firm has also announced acquisitions of two hotels in Orlando, Florida, and a retail co-op space in Manhattan's SoHo neighborhood.

Sources

• Paceline Equity Partners: Paceline Equity Partners Fully Realizes Its Investment in the Renaissance Dallas at Plano Legacy West Hotel (Nov. 4, 2026)