Sixth Street has acquired the Pier House Resort & Spa, a 142-room luxury oceanfront resort in Key West, Florida, in a $190 million transaction. The seller was Braemar Hotels & Resorts. Sixth Street completed the purchase in partnership with Riller Capital, and financing for the acquisition was provided by Starwood Property Trust.
The Pier House Resort & Spa spans five acres at 1 Duval Street, positioned on the waterfront at the gateway to Key West’s Duval Street. The property’s oceanfront setting places it at one of the island’s primary entry points, connecting directly to one of Key West’s best-known commercial and entertainment corridors.
Amenities at the resort include two oceanfront dining venues, a full-service spa, and a fitness center. The property also offers an oceanfront pool and 75 linear feet of private beach frontage. For group and corporate users, the resort provides approximately 3,000 square feet of meeting and event space, adding a business and group-demand component to its leisure-oriented profile.
Sixth Street executed the deal through its real estate platform, which invests directly in properties and provides capital solutions across the capital structure, including equity, preferred equity, and debt. The firm also partners with sector-related operating businesses as part of its real estate strategy.
Beyond hospitality, Sixth Street’s real estate investments span a range of property types, including residential, office, industrial, data centers, retail, and other specialized sectors. The Pier House acquisition adds a luxury, oceanfront resort in Key West to that diversified portfolio, supported by financing from Starwood Property Trust and equity participation from Riller Capital.
