Condor Hospitality Trust Completes Acquisition of Residence Inn Austin Airport and Fairfield Inn & Suites El Paso Airport for $38 Million

Condor Hospitality Trust, Inc. | September 6, 2017

BETHESDA, Md.--September 6, 2017--Condor Hospitality Trust, Inc. (NYSE American: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that it has closed on the acquisition of two Marriott-branded hotels for $38,800,000. The closing includes the following hotels: the Fairfield Inn & Suites El Paso Airport and the Residence Inn Austin Airport. The hotels will continue to be managed by Ambridge Hospitality. The Company has a third Marriott-branded hotel, the TownePlace Suites Austin North Tech Ridge, under contract for $19,750,000, which is expected to close...