It's been focused on keeping a conservative balance sheet rather than buying at the top of the market over the past year or so; the strategy "has not always been popular, nor appreciated," Arabia said. Now, Sunstone has "more capital to go on offense earlier than most," he told analysts during a May conference call. Times Issues At least one giveback could still occur; news reports and company statements indicate that the real estate investment trust may surrender one of its larger assets in its 20-property portfolio, in New York City. Sunstone (NYSE: SHO) gave a heads up to investors and analysts last month during a first-quarter earnings conference call that it is working with a special servicer on options for the Hilton Times Square. The operator did not make its May 1 debt service payment for the 460-room property, it said last month. It hasn't disclosed whether it did so for the June 1 payment.