Sunstone Hotel Investors Stock Real Estate Investment Trust - REIT
Sunstone Hotel Investors, Inc. Completes Preferred Stock Offering
SAN CLEMENTE, Calif., April 11 -- Sunstone Hotel
Investors, Inc. (NYSE: SHO) announced today that it has completed the
previously announced offering of 2,200,000 shares of 8.0% Series A
Cumulative Redeemable Preferred Stock (NYSE: SHO PrA) with a liquidation
preference of $25.00 per share for gross proceeds of approximately $54.5
million.
Deutsche Bank Securities Inc. acted as sole bookrunner for 1,000,000
shares of this offering. Certain advisory clients of Security Capital
Research & Management purchased the remaining 1,200,000 shares of this
offering directly from the Company.
Copies of the final prospectus may be obtained from Deutsche Bank
Securities Inc.; 60 Wall Street; New York, NY 10005; Attn: Syndicate.
About Sunstone Hotel Investors, Inc.
Sunstone Hotel Investors, Inc. is a Southern California-based lodging
real estate investment trust (REIT). Sunstone owns 61 hotels with an
aggregate of 17,901 rooms primarily in the upper-upscale and upscale
segments operated under franchises from nationally recognized brands such
as Marriott, Hyatt, Hilton and Fairmont.
Statements in this news release that are forward-looking statements are
subject to various risks and uncertainties including those described in
Sunstone Hotel Investors, Inc.'s Form 10-K and other SEC filings. Such
information contained herein represents management's best judgment as of
the date hereof based on information currently available. Sunstone Hotel
Investors, Inc. does not intend to update this information and disclaims
any legal obligation to the contrary. Historical information is not
necessarily indicative of future performance.
For Additional Information:
Bryan Giglia Amy Cozamanis
Director of Finance Investor/Analyst Information
Sunstone Hotel Investors, Inc. Financial Relations Board
(949) 369-4236 (310) 854-8314
