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KEY WEST, FLA. — Sixth Street, a global investment firm based in San Francisco, and partner Riller Capital have acquired Pier House Resort & Spa, a 142-room luxury oceanfront resort located at 1 Duval St. in Key West. Dallas-based Braemar Hotels & Resorts sold the property to the partnership for $190 million.
Situated on five acres, Pier House offers two oceanfront restaurants, a full-service spa, oceanfront pool, 75 linear feet of private beach frontage and 3,000 square feet of meeting and event space.
Starwood Property Trust provided acquisition financing for the deal. CBRE represented Sixth Street in the transaction, and The Plasencia Group represented Braemar.