SAN CLEMENTE, Calif. (AP) -- Lodging real estate investment trust Sunstone Hotel Investors Inc. said Thursday it will issue 14 million shares in a public offering.
Underwriters will have 30 days to buy up to an additional 2.1 million shares.
Joint bookrunners are Bank of America Merrill Lynch and Wells Fargo Securities.
Proceeds from this offering will be contributed to Sunstone Hotel Partnership LLC, a subsidiary, which will use proceeds for working capital and other general corporate purposes, which may include hotel acquisitions
