ALISO VIEJO, Calif.,
April 29, 2016 /PRNewswire/ --
Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE:
SHO) today announced that W. Blake
Baird and Murray J. McCabe
have been elected to the Company's Board of Directors. In
addition, Lewis N. Wolff, a Director
since 2004, did not stand for reelection and has retired from the
Board. These changes are effective as of April 28, 2016 and have expanded the Board to
nine members, including eight independent Directors.
Mr. Baird is the co-founder of Terreno Realty Corporation (NYSE:
TRNO), a real estate investment trust that acquires, owns and
operates industrial real estate in six major coastal U.S. markets,
and has served as chairman of its board of directors and its Chief
Executive Officer since February
2010. Prior to co-founding Terreno Realty Corporation,
Mr. Baird was President and a Director of AMB Property Corporation
and Chairman of its Investment Committee. AMB, (now Prologis,
NYSE:PLD), was a leading global developer, owner and operator of
industrial real estate with more than 1,100 buildings containing
over 125 million square feet and an equity market capitalization of
over $5 billion. Prior to
joining AMB, Mr. Baird was a managing director of Morgan Stanley
& Co., most recently as head of Real Estate Investment Banking
for the Western United States.
Mr. Baird also serves as a director of Matson, Inc.
(NYSE:MATX), a Honolulu-headquartered ocean transportation
and logistics company.
Mr. McCabe is currently a Managing Partner at Blum Capital
Partners, L.P. where he serves as a member of the Management
Committee. His responsibilities include overseeing and
managing Blum Capital's, and its affiliate Montgomery Street
Partners', global real estate-related investment initiatives,
focusing on distressed debt, opportunistic equity investments and
structured investments in public securities. Prior to joining
Blum Capital in September 2012, Mr.
McCabe worked at JPMorgan Chase & Co. from 1992 through
August 2012. During his 20-year
tenure at JPMorgan, Mr. McCabe held several positions in the
Investment Banking Division, including Managing Director and Global
Head of Real Estate and Lodging Investment Banking. Mr.
McCabe is a member of the advisory board for the Fisher Center for
Real Estate and Urban Economics at the University of California at Berkeley, and is also
an executive council member of the Real Estate Finance and
Investment Center and serves on the REIT Investment Funds advisory
board for the McCombs School of Business at the University of Texas, Austin. He has served as
a director of RREEF Property Trust, Inc. since November 2012, and as a director of Columbia
Property Trust, Inc. (NYSE: CXP) since September 2013.
Douglas M. Pasquale, Chairman,
stated, "I am excited and pleased to welcome Blake and Murray to
the Sunstone Board. Both have extensive experience relating
to real estate, capital markets, corporate governance, mergers
& acquisitions and corporate finance and will bring new
dimensions of leadership to the Board. On behalf of all the
Directors and the entire Sunstone team, I would also like to thank
Lew for his many years of leadership and service. As
Sunstone's first Chairman, Lew has helped influence the direction
and evolution of the organization since its IPO and we are grateful
for his countless contributions."
About Sunstone Hotel Investors:
Sunstone Hotel
Investors, Inc. is a lodging real estate investment trust ("REIT")
that, as of the date hereof, has interests in 29 hotels comprised
of 13,850 rooms. Sunstone's hotels are primarily in the upper
upscale segment and are generally operated under nationally
recognized brands, such as Marriott, Hilton, Fairmont, Hyatt and
Sheraton. For further information, please visit Sunstone's website
at www.sunstonehotels.com.
For Additional Information:
Bryan Giglia
Chief Financial Officer
Sunstone Hotel Investors, Inc.
(949) 382-3036
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SOURCE Sunstone Hotel Investors, Inc.