Deal Details
Follow-on Offering
Summary
Baird served as bookrunner on this offering
About
Condor Hospitality Trust, Inc. (“Condor” or the “Company”) (NASDAQ: CDOR) recently completed a follow-on offering of 4,772,500 shares of common stock for total gross proceeds of approximately $50.1 million, including the exercise of the over-allotment option. Condor intends to use the net proceeds from the offering to repay amounts borrowed under its secured revolving credit facility and for general corporate purposes.Condor 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. The Company currently owns 21 hotels in 11 states. Condor’s hotels are franchised by a number of the industry’s most well-regarded brand families including Hilton, Marriott/Starwood, InterContinental Hotels Group, Choice, and Wyndham. Condor is headquartered in Bethesda, Maryland.
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- Date
- March 2017
- Company
- Condor Hospitality Trust, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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