San Francisco, August 13, 2026 – Sixth Street, a leading global investment firm, today announced it has acquired the Pier House Resort & Spa (“Pier House”), a 142-room, luxury oceanfront resort in Key West, Florida, for $190 million from Braemar Hotels & Resorts (“Braemar”, NYSE: “BHR”). Sixth Street completed the transaction in partnership with Riller Capital.
Situated on five acres at 1 Duval Street, Pier House is ideally located on the waterfront at the gateway to Key West’s world-famous Duval Street, giving guests access to both the natural beauty of the Gulf and the energy of Key West’s main thoroughfare. The resort features a comprehensive suite of amenities, including 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.
“We believe Pier House represents an opportunity to acquire a historic luxury resort in one of the country’s most supply-constrained and sought-after tropical leisure markets,” said Aman Gupta, Principal at Sixth Street. “With direct access to one of the island’s few private beaches, unobstructed sunset views, and proximity to the heart of Key West, the Hotel offers a truly differentiated guest experience. This investment reflects Sixth Street’s commitment to identifying high-quality hospitality assets where we can drive long-term value.”
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.
Sixth Street was advised by Latham & Watkins, Smith, Hawks, P.L., and CBRE. The Plasencia Group served as advisor to Braemar, and financing for the transaction was provided by Starwood Property Trust.
About Sixth Street
Sixth Street is a global investment firm with over $135 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 750 team members including approximately 300 investment professionals around the world. 1 For more information, and additional disclosures, visit www.sixthstreet.com, and follow Sixth Street on LinkedIn.
1 Total Sixth Street employees as of 3/31/2026
About Braemar Hotels & Resorts
Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.
Contact
Sixth Street: media@sixthstreet.com