Sixth Street Pays $190M for Key West Resort

Sixth Street acquired the Pier House Resort & Spa, a 142-room, luxury oceanfront resort in Key West, Florida, for $190 million from Braemar Hotels & Resorts. Sixth Street completed the transaction in partnership with Riller Capital. Financing for the transaction was provided by Starwood Property Trust.

Situated on five acres at 1 Duval Street, Pier House is located on the waterfront at the gateway to Key West’s Duval Street. Amenities include two oceanfront dining venues, a full-service spa, fitness center, oceanfront pool, 75 linear feet of private beach frontage, and approximately 3,000 square feet of meeting and event space.

Sixth Street Real Estate invests directly in properties, provides solutions across the capital structure—including equity, preferred equity, and debt—and partners with sector-related operating businesses. The firm’s real estate investments span a wide range of asset classes, including residential, office, hospitality, industrial, data centers, retail, and other specialized sectors.