Sunstone Hotel Investors, Inc. Completes the Previously Announced Acquisition of the 335-Room Embassy Suites La Jolla
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Sunstone Hotel Investors, Inc. Completes the Previously Announced Acquisition of the 335-Room Embassy Suites La Jolla
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Catégorie : Amérique du Nord et Antilles -
Ceci est un communiqué de presse sélectionné par notre comité éditorial et mis en ligne gratuitement le 18-05-2006
Hotel Investors, Inc. (NYSE: SHO) announced today that it has completed the acquisition of the Embassy Suites located in La Jolla, California for a purchase price of approximately $100 million.
Concurrently, Sunstone Hotel Investors, Inc. closed on a fixed-rate loan totaling $70.0 million at a rate of 6.60%. The loan is interest only for five years and will mature in 2019.
Robert A. Alter, Sunstone's Chief Executive Officer, stated, "We are very excited to add such a high quality asset in a market with robust business and leisure demand generators. This acquisition is an excellent example of our team's ability to identify and quickly close on deals that meet our investment criteria. We were able to complete this acquisition and debt financing in less than thirty days after executing a purchase agreement."
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