Sunstone Investors Completes Acquisition of Boston Park Plaza
Tuesday July 2nd, 2013 - 5:07PM E
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ALISO VIEJO, CA—Sunstone Hotel Investors has closed on its acquisition of the Boston Park Plaza hotel.
The 1,053-room property was purchased for $250 million, or $237,400 per room. The acquisition was funded by proceeds from the sale of four hotels and a commercial laundry facility in January 2013, as well as cash and the assumption of a non-recourse loan from the hotel with an outstanding balance of $19.2 million.
Tags: • Hospitality • Acquisitions •
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