Condor Hospitality Trust Under Contract to Sell Its Non-Core Legacy Super 8 Hotel in Creston, IA for $5.1 Million

Condor Hospitality Trust, Inc. | June 7, 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 that one of its legacy hotels, the 121-room Super 8 in Creston, IA, is now under contract to sell for $5.1 million and is expected to close in the third quarter of 2018. Net proceeds from the anticipated sale will be applied to outstanding debt on the Company's $150 million secured credit facility. "Given a projected closing of the Creston Super 8 in the third quarter, we will have sold four legacy hotels for gross proceeds of $20.4 million since ...