Equity Private Placement

Real Estate
Equity Private Placement

Summary

Baird served as the lead placement agent on this offering.

About

Condor Hospitality Trust, Inc. (NASDAQ: CDOR) (“Condor” or the “Company”) recently completed a $30.0 million private placement of 6.25% Series D preferred equity. The Series D preferred may later be converted through shareholder election or completion of certain events into shares of the Company’s common stock at a conversion price of $1.60 per share, which represents a 65.0% premium to the pre-announcement closing price. The Company intends to use the net proceeds from this offering to fund the redemption of the Company’s Series A and B preferred equity, for future acquisitions and for general corporate purposes.

Condor is an internally managed, publically traded lodging REIT that specializes in the ownership of premium-branded select service and extended stay hotels. The Company’s hotel portfolio consists of 39 hotels, containing a total of 3,140 guestrooms, located in 18 states. Condor is headquartered in Bethesda, Maryland.

For additional information about this transaction, please contact:

Steve Goldberg +1 (202) 303-1808
Jim O’Brien +1 (202) 303-1814
Real Estate
Equity Private Placement
Date
April 2016
Company
Condor Hospitality Trust, Inc.
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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