Sunstone acquisition of land at Renaissance Orlando raises speculation

09/25/2008 | GlobeSt.com

Sunstone Hotel Investors' decision to buy the land underneath the Renaissance Orlando Resort at SeaWorld in Florida for $30.4 million this month has some observers wondering whether the California-based real estate investment trust is positioning the property for sale. Just three months ago, Sunstone sold the 726-room Hyatt Regency Century Plaza hotel in Los Angeles after it had been repositioned, but the company says the ground-lease buyout in Florida was done in order to take advantage of low prices on commercial land in that state.

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