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Sheraton Cerritos — Sunstone leasehold disposition
$42,000,000 · $206,897/key
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.
Sunstone Hotel Investors IR / PR Newswire, May 11, 2016 (sold; day from the release)