Paceline Equity Partners Acquires Renaissance Dallas At Plano Legacy West Hotel In Plano
6007 Legacy Dr, Plano, TX 75024, United States
Building Size
—
Asset Type
Hotel
Closing
Jul 17, 2023
AI
The Renaissance Dallas at Plano Legacy West Hotel, located at 6007 Legacy Drive in Plano, has been acquired by Paceline Equity Partners, LLC. This upscale hotel is part of the Legacy West development and offers a total of 304 keys. It features a stunning rooftop pool and bar, as well as extensive meeting space, catering to both leisure and business travelers.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 6007 Legacy Drive, Plano
- Market: Plano
- Keys: 304
Paceline Equity Partners, LLC, represented by Sam Loughlin and Leigh Sansone, successfully acquired the Renaissance Dallas at Plano Legacy West Hotel. This strategic transaction enables Paceline Equity Partners to add a prestigious hotel property to its portfolio. The acquisition of this hotel in the heart of Legacy West presents a promising investment opportunity for Paceline Equity Partners.
Players
Texas Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93