Sunstone Hotel Investors Inc., San Clemente, Calif., has priced a public offering of 2.2 million shares of 8.0% series A cumulative redeemable preferred stock at $25 per share.The real estate investment trust said the shares form a single class with its outstanding shares of 8.0% series A preferred stock. Deutsche Bank was the sole bookrunner for 1.0 million shares of the offering, and certain advisory clients of Security Capital Research & Management Inc. agreed to purchase 1.2 million shares directly from Sunstone, the company reported. The REIT can be found online at http://www.sunstonehotels.com.
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