Global investment firm Sixth Street has added a $190m (€165m) luxury oceanfront resort in Florida to its US real estate portfolio.
Sixth Street said it has, in partnership with Riller Capital, acquired the 142-room Pier House Resort & Spa situated on five acres at 1 Duval Street, from Braemar Hotels & Resorts.
Aman Gupta, principal at Sixth Street, said: “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.
“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.”
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