Brief
Sunstone Hotel Trades San Francisco Property to Blackstone for $279M
Sunstone Hotel Investors, Inc. said Tuesday it has agreed to sell the 821-key Hyatt Regency San Francisco to funds affiliated with Blackstone Real Estate for a gross sale price of $279 million, or app
Summary
Sunstone Hotel Investors, Inc.
said Tuesday it has agreed to sell the 821-key Hyatt Regency San Francisco to funds affiliated with Blackstone Real Estate for a gross sale price of $279 million, or approximately $340,000 per key.
The sale price represents a 21.4x multiple on adjusted EBITDA and a 3.5% cap rate on hotel NOI for...
Source
- Connect CREconnectcre.com
