Sunstone Buys Napa, Santa Clarita Hotels
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Sunstone Hotel Investors Inc. said it has purchased a Marriott Hotel in Napa Valley for $21 million and a Hampton Inn in Santa Clarita for $8.25 million.
The San Clemente-based real estate investment trust said it will assume about $6.2 million in debt and will issue limited partnership units for the remaining partners’ equity to purchase the Hampton Inn hotel.
