Condor Hospitality Trust Enters Joint Venture with Three Wall Capital to Acquire 254-Room Aloft Atlanta Downtown

Condor Hospitality Trust, Inc. | August 2, 2016

BETHESDA, MD--(August 02, 2016) - Condor Hospitality Trust, Inc. (NASDAQ: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that it has entered into a joint venture agreement with Three Wall Capital to acquire the 254 room Aloft Atlanta located in downtown Atlanta at 300 Spring St NW, Atlanta, GA 30308. Through its operating partnership subsidiary, Condor will own 80% of the joint venture with Three Wall Capital owning the remaining 20% of the joint venture. The purchase price for the hotel is $43,550,000. Subsequent to the transaction's closing in the...