Sunstone Seals $262M Deal For San Francisco Hyatt Hotel

Law360, New York (December 3, 2013, 6:25 PM EST) -- Making its second major acquisition of the year, real estate investment trust Sunstone Hotel Investors on Monday closed a $262.5 million deal that adds the Hyatt Regency San Francisco hotel to its expanding portfolio, according to a regulatory filing.

Per the deal, Sunstone used proceeds from a recent common stock issuance to pay about $327,000 for each of the hotel's 802 rooms, the company said. The deal gives the California-based REIT a new foothold in San Francisco's market, where it did not have a presence....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.