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Share this article Share this article IRVINE, Calif., April 28, 2021 /PRNewswire/  Sunstone Hotel Investors, Inc. (the Company or Sunstone ) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, today announced the acquisition of the fee-simple interest in the 130-room Montage Healdsburg (the Resort ).  The newly constructed luxury Resort, which was completed in December 2020, was acquired for a gross purchase price of $265 million.  The acquisition was funded from cash on hand and through the direct issuance of $66 million of perpetual preferred equity (the Series G Preferred Equity ) to the seller, affiliates of Ohana Real Estate Investors ( Ohana or the Seller ).  Upon stabilization, the Company expects the Resort to generate a 6.0% to 7.0% net operating income yield on total invested capital. The acquisition of the Resort further advances Sunstone s strategy of owning a portfolio of Long-Term Relevant Real Estate®.

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