Deal Details
Preferred Stock Offering
Summary
Baird served as a co-manager in this offering.
About
Sunstone Hotel Investors, Inc. (“Sunstone” or the “Company”) (NYSE: SHO) recently completed a 4,600,000 share offering of its 8.0% series D cumulative redeemable preferred shares at $25.00 per share, generating gross proceeds of $115.0 million. Sunstone plans to use the net proceeds from the offering primarily for growth capital expenditures, future acquisitions and other general corporate purposes, including working capital.Sunstone is a lodging real estate investment trust that owns 33 hotels comprised of 12,676 rooms. Sunstone’s hotels are primarily in the upper upscale segment and are generally operated under nationally recognized brands, such as Marriott, Fairmont, Hyatt and Starwood.
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- Date
- April 2011
- Company
- Sunstone Hotel Investors, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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