|Sunstone Hotel Investors, Inc. ("Sunstone") is a lodging real estate investment trust ("REIT") that, as of the date hereof, owns 28 hotels comprised of 13,648 rooms primarily in the upper-upscale segment. Sunstone's hotels are generally operated under nationally recognized brands, such as Marriott, Hilton, Hyatt and Fairmont. For further information, please visit Sunstone's website at www.sunstonehotels.com|
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|05/11/16||Sunstone Hotel Investors Sells The Leasehold Interest In The 203-Room Sheraton Cerritos For $42.0 Million|
|ALISO VIEJO, Calif., May 11, 2016 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced that it has sold (the "Sale") the leasehold interest in the 203-room Sheraton Cerritos (the "Hotel") for a contractual price of $42.0 million (or approximately $206,900 per key). The contractual gross sale price of $42.0 million represents a 10.5x multiple on 2015 Hotel Adjusted EBITDA of $4.0 million, and a 8.2% capitalization rate on 2015 Hotel net operatin... |
|05/10/16||Sunstone Hotel Investors, Inc. Prices Public Offering of 6.45% Series F Cumulative Redeemable Preferred Stock|
|ALISO VIEJO, Calif., May 10, 2016 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (NYSE: SHO) (the "Company") announced today that it has priced an underwritten public offering of 3,000,000 shares of its 6.45% Series F Cumulative Redeemable Preferred Stock (the "Series F Preferred Shares") for gross proceeds of $75 million.
The sole book-running manager for this offering is Wells Fargo Securities, LLC. The offering is expected to close on May 17, 2016, subject to customary closing conditions.
|05/02/16||Sunstone Hotel Investors Reports Results For First Quarter 2016|
|04/29/16||Sunstone Hotel Investors Announces Changes To The Board Of Directors|
|ALISO VIEJO, Calif., April 29, 2016 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced that W. Blake Baird and Murray J. McCabe have been elected to the Company's Board of Directors. In addition, Lewis N. Wolff, a Director since 2004, did not stand for reelection and has retired from the Board. These changes are effective as of April 28, 2016 and have expanded the Board to nine members, including eight independent Directors.
Mr. Baird is... |