SUNSTONE HOTEL INVESTORS ENTERS INTO AN AGREEMENT TO SELL HYATT REGENCY SAN FRANCISCO
Sunstone Hotel Investors entered into a definitive agreement to sell the 821-room Hyatt Regency San Francisco to Blackstone Real Estate affiliates for a gross price of $279 million. The company has already deployed nearly $70 million of the anticipated proceeds into repurchasing 4.4 million common shares and 1.4 million preferred shares at prices management considers accretive discounts to net asset value.
Key figures
- Revenue
- 104468000
- Cap rate
- 3.5
- Price per key
- 340000
- Deal value usd
- 279000000
- Ebitda multiple
- 21.4
- Adjusted ebitda re
- 13031000
- Net operating income
- 9897000
- Common repurchase amount
- 40500000
- Common shares repurchased
- 4400000
- Preferred repurchase amount
- 27800000
- Preferred shares repurchased
- 1400000
AI analysis
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