PLANO – A Dallas-based private equity manager has purchased an $80 million hotel in the Legacy West Urban Village.
The Renaissance Hotel has 304 rooms across 15 stories. Paceline Equity Partners LLC partnered with Hong Kong-based ESR Group for the purchase. The hotel is on Legacy Dr. near the Dallas North Tollway.
Paceline manages $1 billion of assets nationwide with the Renaissance being the first in Texas. ESR Group is one of the largest real estate managers in Asia with $140 billion in holdings.