Sunstone Expands Chicago Portfolio With $92M Hotel Buy

Law360, New York (June 20, 2012, 5:09 PM EDT) -- California-based Sunstone Hotel Investors Inc. is picking up a Hilton Worldwide Inc.-branded Chicago hotel for $91.75 million — its second Magnificent Mile acquisition this month — and on Wednesday put up $114.95 million worth of shares for sale to help fund its shopping spree.

Just one day after announcing it had acquired the 357-room Hilton Garden Inn Chicago Downtown in an all-cash deal, the real estate investment trust put on the block 11,000,000 common shares priced at $10.45 per share, with the underwriter granted a 30-day...
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