An unknown buyer entered into an agreement to acquire Embassy Suites La Jolla from Sunstone Hotel Investors, Inc. (NYSE:SHO) for $280 million on October 18, 2021. As part of the transaction, the buyer intends to assume the hotel?s existing $56.9 million mortgage loan. The transaction is subject to customary closing conditions. The Sunstone Hotel expects the sale to close during the fourth quarter of 2021.