Sunstone Agrees to Deal
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SAN CLEMENTE — Sunstone Hotel Investors Inc. said Wednesday it has agreed to purchase the 289-room Holiday Inn Hotel in La Mirada for about $18 million. Sunstone said it will finance part of the acquisition by selling 805,000 shares of common stock at $13.75 per share.
Sunstone, a real estate investment trust, owns 28 hotels in the Western U.S. Its stock closed Wednesday at $13.50 a share, down 25 cents, on the New York Stock Exchange.
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