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Braemar Hotels & Resorts Inc. completed the sale of its 142-room Pier House Resort & Spa in Key West, Florida on…
BHRBraemar Hotels & Resorts Inc.
Braemar Hotels & Resorts Inc. completed the sale of its 142-room Pier House Resort & Spa in Key West, Florida on August 12, 2026, for $190.0 million in cash. The transaction represents a 7.3% capitalization rate on trailing twelve-month net operating income through June 30, 2026, and includes anticipated capital expenditures of $11.8 million. Proceeds were used to repay approximately $93.7 million in mortgage debt secured by the property. The company received roughly $187.5 million net of selling expenses, generating a preliminary non-recurring gain on disposition. Braemar Hotels & Resorts Inc. operates as a hotel investment trust owning and managing upscale resort properties.