03 Case Studies

Pier House Resort & Spa

Assignment Overview

RobertDouglas advised Braemar Hotels & Resorts (NYSE: BHR) in securing an $80-million non-recourse senior mortgage for the refinancing of Pier House Resort & Spa in Key West, Florida. The five-year, floating-rate financing was provided by a national bank.

Property Background

Located in an irreplaceable location in one of the highest barrier-to-entry markets in the world, the iconic, waterfront Pier House Resort & Spa in Key West features 142 guestrooms, a 2,600-square-foot conference center, and numerous high-end amenities, including a private white sand beach, an outdoor heated pool with whirlpool, a health club and fitness center, and a 10,000-square-foot spa, the only full-service spa in Key West.

Deal Highlights

Client (Seller):
Buyer:
Sale Proceeds:
Key Count:

 

Braemar Hotels & Resorts
Bank
$80 million
142

 

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