Overview
- The sale closed on Thursday, August 13, 2026, when Sixth Street Partners and Riller Capital acquired Pier House from Braemar Hotels & Resorts for $190 million.
- Debt financing for the purchase was provided by Starwood Property Trust, though the loan amount was not disclosed, and the Plasencia Group advised seller Braemar.
- Pier House is a 142-room oceanfront resort at 1 Duval Street on five acres with two oceanfront restaurants, a spa, a fitness center, an oceanfront pool, about 3,000 square feet of event space, and private beach frontage.
- Sixth Street said the acquisition fits its strategy of buying high-quality hospitality assets in supply-constrained markets and named Aman Gupta, a Sixth Street principal, as a spokesperson for that rationale.
- The deal signals continued investor appetite for limited-supply beachfront hotels and may lead to capital investment or operational changes at Pier House as the new owners seek to drive long-term value.