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 ...