Sunstone to hand San Diego hotel back to lenders

06/8/2009 | Wall Street Journal, The

Sunstone Hotel Investors is preparing to convey a 258-room hotel in San Diego to its lenders, after it was unable to negotiate concessions from Centerline Servicing, the special servicer for the securitized debt. The hotel has been unable to generate sufficient income to pay interest payments and operating costs since 2007, Centerline said in a report.

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