Condor Hospitality Trust Announces Sale of a Non-Core Legacy Hotel, the Comfort Suites in Fort Wayne, Indiana for $7.1 Million

Condor Hospitality Trust, Inc. | June 4, 2018

BETHESDA, Md -- 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 the closing on the sale of a legacy hotel asset, the 127-room Comfort Suites located at 5775 Coventry Lane in Fort Wayne, IN, for $7.1 million. Net proceeds from the sale will be applied to outstanding debt on the Company's $150 million secured credit facility. "With the sale of the Comfort Suites Fort Wayne, there are only two legacy hotels owned by Condor," said Bill Blackham, Condor's Chief Executive Officer. "Of the two legacy assets remaini...