Sheraton Cerritos — Sunstone leasehold disposition
Sheraton Cerritos · 203 keys · Upper upscale
Consideration
$42.0M
$207k / key
Sunstone IR: $42.0 million contractual for the leasehold interest in the 203-room Sheraton Cerritos. Leasehold — not a fee coastal PPK.
Sunstone Hotel Investors IR / PR Newswire, May 11, 2016 (sold; day from the release)
Sunstone sold the leasehold interest in the 203-room Sheraton Cerritos on May 11, 2016 for a contractual price of $42.0 million. Harbor PPK is $42.0 million ÷ 203 and is a leasehold number — do not apply it as a fee-simple Los Angeles rooms deed. The same release names the completed sale, the 203 rooms, and that hotel price. Use the $42.0 million hotel price, not the later $41.2 million net-proceeds line. Buyer unnamed. Filing names Cerritos — Harbor will not invent a Long Beach or Anaheim lock. Not Park’s 2019 Ace Hotel Downtown Los Angeles $117.0 million / 182 tape and not Sunstone’s 2019 Courtyard Los Angeles $50 million / 187 tape. Hilton New Orleans Airport plus Embassy Suites Parsippany stay combined. Adagio and Le Meridien San Francisco stay off. Older than the 2025–26 blotter cut.