REIT to Get $5.6 Million From Sale
SAN CLEMENTE — Sunstone Hotel Investors, Inc. said Wednesday that Montgomery Securities has exercised an option to purchase about 600,000 shares of the company’s common stock as part of a recent secondary offering.
The company will receive $5.6 million, increasing proceeds from the 4 million-share offering to $46 million.
Sunstone Hotel Investors is a real estate investment trust that owns 20 hotels in the West.
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