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Condor Hospitality Trust sells Indiana hotel for $6.1 million

Representatives of Condor Hospitality Trust Inc. of Bethesda rang the NYSE's ceremonial bell in July 2017 to celebrate the company's new listing on NYSE MKT. (Screenshot from NYSE video)

Representatives of Condor Hospitality Trust Inc. of Bethesda rang the NYSE’s ceremonial bell in July 2017 to celebrate the company’s new listing on NYSE MKT. (Screenshot from NYSE video)

Condor Hospitality Trust Inc., a hotel-focused real estate investment trust based in Bethesda, closed on the sale of a hotel that it deemed as a legacy asset.

Condor sold the 135-room Comfort Suites on U.S. Route 933 North in South Bend, Indiana, for $6.1 million.

The REIT will use the net proceeds from the sale to pay down debt on its $150 million secured credit facility.

 

The company now holds only three legacy hotels of the 55 that it owned at the start of 2015.


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