NexPoint Hospitality Trust to acquire Condor Hospitality Trust
NexPoint Hospitality Trust (NHT) has announced the execution of a definitive agreement, under which NHT’s operating partnership, NHT Operating Partnership, will acquire all of the outstanding equity interests of Condor and its operating partnership by merger.
The sales price was $318 million.
In line with NHT’s growth strategy, NHT will acquire 15 select-service and extended stay hospitality properties, representing 1,908 guestrooms across eight U.S. states.
The transaction will expand NHT’s geographic footprint into Georgia, Kansas, Kentucky, Maryland, Mississippi and South Carolina and increase its presence in Florida and Texas.