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Paceline Equity Partners Acquire Extended Stay Home2 Suites by Hilton New York LIC
Affiliates of Paceline Equity Partners, a Dallas-based private equity manager, has acquired the Home2 Suites by Hilton New York Long Island City, an extended stay, all-suite hotel in Long Island City, New York.
“The Home2 Suites represents our first hospitality investment in New York City, and the tenth hotel in our portfolio,” said Sam Loughlin, chief executive officer of Paceline. “The hotel has capitalized on the strong leisure and business travel in the Long Island City submarket as the neighborhood has developed, highlighting the area’s strong recovery from the pandemic and diverse economic tailwinds.”
This recently renovated hotel is one of only three Hilton-branded extended-stay properties in New York City. The acquisition was followed by Paceline’s acquisition of the Sheraton Suites Atlanta Galleria in June 2022.
- ◦Sale/Acquisition
