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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®.
UPDATE: Sunstone Hotel Investors (SHO) Reports Acquisition of The 130-Room Montage for $265M
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Sunstone Hotel Investors Acquires The 130-Room Montage Healdsburg Resort For $265 Million
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Liam Doyle has been appointed Senior Vice President, Operations at Montage International
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Montage Residences Healdsburg Releases Coveted Luxury Four-Bedroom Homes in Northern California Wine Country February 24, 2021
HEALDSBURG, CALIF. (February 18, 2021) – Montage Residences Healdsburg is pleased to announce the availability of the highly anticipated Harvest Homes, signature residences within the newest luxury resort, Montage Healdsburg, located in Northern Sonoma County. Situated on 258 acres of rolling hills with 22,000 carefully preserved oak trees and private vineyards, the Harvest Homes at Montage Residences Healdsburg offer an unparalleled wine country residence for homeowners seeking a completely effortless experience with signature Montage amenities and personalized service.
Positioned adjacent to the 130-room Montage Healdsburg, the 25 Harvest Homes are fully-furnished, contemporary single-family retreats featuring four bedrooms, four-and-a-half bathrooms, and over 4,500 square feet of indoor-outdoor living space. Designed by Delawie Architecture, the