Condor Hospitality Trust, Inc.

Condor Hospitality Trust Announces Agreement to Sell Hotels to Blackstone Real Estate

Retrieved on: 
Thursday, September 23, 2021
REIT, Other Construction & Property, Lodging, Construction & Property, Travel, Blackstone, News, Plan, REIT, Failure, Suite, Hersha Hospitality Trust, Pandemic, Annual report, Security (finance), Sale, Private Securities Litigation Reform Act, U.S. Securities and Exchange Commission, Investor relations, Real estate, Ownership, MSAS, Marketing, Industry, THE, Company, Communication, Condor, Geography, COVID-19, Maintenance, Nebraska, Telephone, InterContinental, NYSE, Metropolitan statistical area, SEC, Bank, Condor Hospitality Trust, Inc., Blackstone Real Estate, CONDOR HOSPITALITY TRUST, INC., BLACKSTONE REAL ESTATE

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.

Key Points: 
  • 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.
  • Scott Trebilco, Managing Director of Blackstone Real Estate Partners, said, We are pleased to have reached agreements with Condor and a majority of its shareholders.
  • Blackstones Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets.
  • Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Shareholders of Condor Hospitality Trust Approve Merger

Retrieved on: 
Monday, September 23, 2019
Commercial Building & Real Estate, Construction & Property, Lodging, Travel, REIT, Other Construction & Property, Condor, Lufthansa, NHT, New York Stock Exchange, Airlines, Aviation, Condor Hospitality Trust, Inc., NexPoint Hospitality Trust

Condor Hospitality Trust, Inc. (NYSE American: CDOR) (Condor) announced today that its shareholders approved the proposed acquisition by merger of Condor by NHT Operating Partnership, LLC (NHT OP), the operating partnership of NexPoint Hospitality Trust (TSVX:NHT.U).

Key Points: 
  • Condor Hospitality Trust, Inc. (NYSE American: CDOR) (Condor) announced today that its shareholders approved the proposed acquisition by merger of Condor by NHT Operating Partnership, LLC (NHT OP), the operating partnership of NexPoint Hospitality Trust (TSVX:NHT.U).
  • Condor will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission.
  • The merger is currently expected to close during the fourth quarter of 2019, subject to the satisfaction of customary closing conditions.
  • Condor Hospitality Trust, Inc. (NYSE American: CDOR) is a self-administered real estate investment trust that specializes in the investment and ownership of upper midscale and upscale, premium-branded, select-service, extended-stay, and limited-service hotels in the top 100 Metropolitan Statistical Areas (MSAs) with a particular focus on the top 20 to 60 MSAs.