Condor Hospitality Trust Acquires TownePlace Suites Austin North Tech Ridge in Texas for $19.75 Million

Condor Hospitality Trust, Inc. | January 19, 2018

BETHESDA, Md.--January 19, 2018--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 its previously-announced agreement to purchase the 122-room TownePlace Suites located in the North Tech Ridge submarket of Austin, Texas. The hotel was purchased for $19.75 million and will continue to be managed by Aimbridge Hospitality. "With the closing of the TownePlace Suites Austin North Tech Ridge, we have added another young, high-quality select-service asset into our growing portfolio of new invest...