Sunstone to Sell Hyatt Regency San Francisco to Blackstone Fund for $279 Million

Corporate Action
โดย Zacks Investment Research·Read original
Summary · why it matters

Sunstone Hotel Investors has agreed to sell the 821-room Hyatt Regency San Francisco to funds affiliated with Blackstone Real Estate for $279 million, or roughly $340,000 per key. The price represents a 21.4-times multiple of Hotel Adjusted EBITDAre and a 3.5% capitalization rate on trailing 12-month net operating income through May 31, 2026. Sunstone has already deployed about $70 million of the proceeds into share repurchases, buying 4.4 million common shares at an average $9.24 and 1.4 million preferred shares at an average $20.37. The company expects the deal to close in late July or early August 2026 and is evaluating further uses for the remaining proceeds to maximize risk-adjusted returns.

Impact on stocks 4

Real Estate▲ · 3 stocks
Sunstone Hotel Investors Inc
SHO
▲ PositiveCapitalrelevance

Sunstone sells hotel at a high EBITDA multiple and uses proceeds for share repurchases, boosting shareholder value.

Artificial Intelligence▲ · 1 stocks
Blackstone Group Inc
BX
▲ PositiveCapitalrelevance

Blackstone acquires a hotel asset at a favorable cap rate, expanding its real estate portfolio.

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