Sunstone Hotel Investors

The purchase price represents a 16.9x multiple on 2014 forecasted Hotel EBITDA of $19.3 million and a 5.2% capitalization rate

The gross purchase price was $262.5 million (or approximately $327,000 per key).

Sunstone Hotel Investors expects to receive initial net proceeds of approximately $165 million, subject to final closing costs, from the sale

The company completes the sale of the Marriott Del Mar and amends and restates its senior unsecured revolving credit facility.<br

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