Affiliates of Paceline Equity Partners, a Dallas-based private equity manager, have acquired The Sheraton Suites Galleria-Atlanta, a full-service hotel 20 minutes from downtown Atlanta. Paceline acquired the hotel from Olshan Properties in an off-market transaction. The deal is Paceline’s first strategic partnership with Highline Hospitality Partners.
The property is less than half a mile from The Battery, a mixed-use development anchored by Truist Park, home of the Atlanta Braves. The property’s proximity to The Battery attracts both business and leisure travel, which has grown steadily as The Battery development continues to expand.
The Sheraton Suites Galleria-Atlanta was developed in 1990 and underwent a complete renovation in 2013. The 278-room all-suite hotel has 4,000 square feet of meeting space and a 352-space parking garage. Public spaces include two restaurants, a fitness center, an indoor and outdoor pool and a grab-and-go market.
“The Sheraton Suites Galleria-Atlanta represents our first hospitality investment in Atlanta and seventh hotel in our portfolio,” said Paceline CEO Sam Loughlin. “The hotel demonstrated strong resilience through the pandemic and is poised to capitalize on The Battery’s embedded leisure and corporate demand drivers, particularly following the $12 million renovation we plan to execute in the near future.”