In conjunction with the purchase, Sunstone settled at the end of April on the forward sale agreement. It issued four million shares of common stock to Citibank NA, which totals about $111 million.

"The Marriott Boston Quincy is a high-quality asset which, combined with recent acquisition of the Marriott Long Wharf, increases our presence in the high-growth Boston market," says Steven Goldman, Sunstone's CEO, in a statement. "We will be consolidating the back of house operations for the two hotels, which will also allow us to add up to nine additional guest rooms to the Long Wharf property, thereby creating operating efficiencies and driving additional revenues."

Sunstone completed the purchase of the Boston Marriott Long Wharf at the end of March, paying $228.2 million for the 402-key property. At the time Goldman said, "The acquisition of the Marriott Long Wharf fits well with our strategy of assembling a 'best-in-class' portfolio of institutional quality assets located in high growth, high barrier markets."