Sunstone Investors Inc. Buys 2 Hotels for $17.8 Million
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SAN CLEMENTE — Sunstone Hotel Investors Inc., continuing its buying spree, said it has acquired two Southern California hotels for $17.8 million in cash.
The hotel real estate investment trust said it bought the Holiday Inn Mission Valley Stadium for $9.1 million from Shivani LLC, and the Crystal Suites, Anaheim, for $8.7 million from Shivani and SPM LLC.
Earlier last week, Sunstone announced plans to acquire a stake in 17 hotels in a $322-million deal that would more than double the company’s size.
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