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Shareholders of Condor Hospitality Trust approve merger
Transactions - SEPTEMBER 24, 2019

Shareholders of Condor Hospitality Trust approve merger

by Released

Condor Hospitality Trust, a lodging REIT based in Bethesda, Md., has announced its shareholders approved the $318 million proposed acquisition by merger of Condor by NHT Operating Partnership, the operating partnership of NexPoint Hospitality Trust, a hotel REIT headquartered in Toronto.

As part of the deal, NexPoint will acquire Condor’s outstanding equity interests and operating partnership.

The merger is currently expected to close during fourth quarter 2019.

Condor Hospitality Trust 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 with a particular focus on the top 20 to 60 MSAs. Condor currently owns 15 hotels in eight states. Condor's hotels are franchised by a number of the industry's most well-regarded brand families, including Hilton, Marriott and InterContinental Hotels Group.

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