Sunstone Hotel Acquires Fountain Suites
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(Dow Jones)
SAN CLEMENTE — Sunstone Hotel Investors Inc. said Wednesday that it bought the Fountain Suites Hotel of Sacramento for $16.8 million.
Sunstone Hotel, a hotel real estate investment trust, said it plans to renovate the six-building complex, which will become a Hawthorn Suites Hotel with 268 suites. The property, which also includes a free-standing restaurant, was purchased from Washington Plaza Associates and C.T.S. Hotel Properties.
