Condor Hospitality Completes Sale of Its 15 Hotels Portfolio
Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the “Company”), a hotel-focused real estate investment trust (“REIT”) headquartered and incorporated in the state of Maryland, announced that it has completed the sale of the Company’s 15 hotels.
NORFOLK, Neb. - Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the “Company”), a hotel-focused real estate investment trust (“REIT”) headquartered and incorporated in the state of Maryland, 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 price of $305,000,000.