WhereDaily News: Condor Hospitality Trust Announces Joint Venture to Acquire Aloft Atlanta Downtown

BETHESDA, MD--(Marketwired - August 01, 2016) - Condor Hospitality Trust, Inc. (NASDAQ: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that it has entered into a joint venture agreement with Three Wall Capital to acquire the 254 room Aloft Atlanta located in downtown Atlanta at 300 Spring St NW, Atlanta, GA 30308. Through its operating partnership subsidiary, Condor will own 80% of the joint venture with Three Wall Capital owning the remaining 20% of the joint venture. The purchase price for the hotel is $43,550,000. Subsequent to the transaction's closing in the third quarter, the hotel will be managed by Boast Hotel Management Company, LLC, an affiliate of Three Wall Capital.

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