condor hospitality trust
Condor Hospitality Completes Sale of Its 15 Hotels Portfolio
Condor Hospitality Trust, Inc. | November 23, 2021
NORFOLK, NE – November 23, 2021 – Condor Hospitality Trust, Inc., a hotel-focused real estate investment trust (“REIT”) headquartered and incorporated in the state of Maryland, today announced that it has completed the sale of the Company’s 15 hotels. The sale of the hotels was completed pursuant to the previously announced Hotel Purchase and Sale Agreement, dated September 22, 2021, between the Company and B9 Cowboy Mezz A LLC, a Delaware limited liability company and an affiliate of Blackstone Inc. (the “Buyer”), in which the Company agreed to sell the hotels to Buyer and Buyer agreed to purchase the hotels for a purchase p...
JMBM Is Hotel Counsel for Condor Hospitality in $305 Million Hotel Portfolio Sale
Global Hospitality Group® | September 29, 2021
LOS ANGELES, CA – September 29, 2021 – The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce its representation of Condor Hospitality Trust in the sale of the company's entire portfolio to Blackstone Real Estate Partners. The $305 million deal was announced September 23, 2021 and is expected to close by the end of the year. Condor Hospitality Trust (NYSE American:CDOR) is a publicly-traded real estate investment trust specializing in the ownership of premium-branded select-service, extended stay, and limited-service hotels franchised under brands including Hilton, Marriott, and IHG. J...
Condor Hospitality Trust Enters Agreement to Sell Hotels to Blackstone Real Estate
Condor Hospitality Trust, Inc. | September 23, 2021
NORFOLK, Neb. – September 23, 2021 – Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the “Company”) announced today that it has entered into an agreement with affiliates of Blackstone Real Estate Partners to sell its entire portfolio of hotels in a $305 million transaction. This is an all cash transaction without the assumption of any existing debt. Completion of the transaction, which is expected to occur in the fourth quarter of 2021, is subject to customary closing conditions, including the approval of the Company’s shareholders. Bill Blackham C.E.O. stated " We believe that this is an extremely attractive transaction ...
Condor Hospitality Terminates Merger Agreement With NHT Operating Partnership
Condor Hospitality Trust, Inc. | September 21, 2020
NORFOLK, Neb. - Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the "Company") today announced that it has terminated its merger agreement with NHT Operating Partnership, LLC, the operating partnership of NexPoint Hospitality Trust (TSVX: NHT), and certain of its affiliates, effective September 18, 2020. Pursuant to its rights under the merger agreement, the Company terminated the merger agreement due to failure of NHT's operating partnership to consummate the acquisition of the Company and for material breaches of the merger agreement by NHT's operating partnership and its affiliates. Pursuant to the merger agreement, the Company i...
Condor Hospitality Trust Updates Actions Taken in Response to Changes in Economic and Industry Conditions Relating to COVID-19
Condor Hospitality Trust, Inc. | April 9, 2020
BETHESDA, Md. - Condor Hospitality Trust (NYSE American: CDOR) (“Condor”), owner of high-quality upper midscale and upscale hotels primarily located in secondary markets, today provided an update on measures taken to mitigate the impact on Condor and its hotels operations of recent changes in the general economic and industry conditions relating to COVID-19. Financial markets have been disrupted and there has been an industry-wide falling off of hotel occupancies. As a result, Condor is taking actions at the corporate and hotel levels including, but not limited to: Amending its Bank Credit Facility to provide extensions options out ...
Condor Hospitality Trust Provides Update on Acquisition by NexPoint Hospitality Trust
Condor Hospitality Trust, Inc. | March 24, 2020
BETHESDA, Md. - Condor Hospitality Trust, Inc. (the “Company”) (NYSE American: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, provided an update today on the previously announced acquisition by merger of the Company (the “Merger”) by NexPoint Hospitality Trust (“NHT”) (TSX-V: NHT-U). Closing of the acquisition did not occur on March 23, 2020, as extended to such date at the request of NHT pursuant to a previously announced amendment to the merger agreement. The Company is in discussions with NHT concerning the closing of the acquisition, and the Company is also ...
Condor Hospitality Trust Provides Update on Acquisition by NexPoint Hospitality Trust
Condor Hospitality Trust, Inc. | March 16, 2020
BETHESDA, Md.--March 16, 2020--Condor Hospitality Trust, Inc. (the “Company”) (NYSE American: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, provided an update today on the previously announced acquisition by merger of the Company (the “Merger”) by NexPoint Hospitality Trust (“NHT”) (TSX-V: NHT-U). NHT has requested and the Company has accommodated an extension of the Merger closing, previously set for March 16, 2020, to March 23, 2020. Forward-Looking Statement This news release (including statements about the expected timing, completion and effects of...
Condor Hospitality Trust Provides Update on Acquisition by NexPoint Hospitality Trust
Condor Hospitality Trust, Inc. | January 31, 2020
BETHESDA, Md.--January 31, 2020_-Condor Hospitality Trust, Inc. (the “Company”) (NYSE American: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, provided an update today on the previously announced acquisition by merger of the Company (the “Merger”) by NexPoint Hospitality Trust (“NHT”) (TSX-V: NHT-U). NHT and the Company have agreed to extend the closing of the Merger to February 28, 2020, subject to further possible extension to March 16, 2020 and the satisfaction or waiver of certain remaining closing date conditions. Forward-Looking Statement This new...
