Condor Hospitality Trust Under Contract to Sell Its Non-Core Legacy Super 8 Hotel in Creston, IA for $5.1 Million

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USA, Bethesda, Maryland. June 13, 2018

Condor Hospitality Trust, Inc. (NYSE American:CDOR), a hotel-focused
real estate investment trust (REIT) headquartered and incorporated in
the state of Maryland, has announced that one of its legacy hotels,
the 121-room Super 8 in Creston, IA, is now under contract to sell for
$5.1 million and is expected to close in the third quarter of 2018. Net
proceeds from the anticipated sale will be applied to outstanding debt
on the Company's $150 million secured credit facility.

“Given a projected closing of the Creston Super 8 in the third
quarter, we will have sold four legacy hotels for gross proceeds of
$20.4 million since the beginning of 2018,” said Bill Blackham, Condor's
Chief Executive Officer. “In the three years since accelerating
dispositions, we have closed or placed under contract for sale 54
hotels. We began 2018 with five legacy hotels and subsequent to this
anticipated sale, Condor will have only one remaining legacy hotel which
is currently being evaluated for possible redevelopment opportunities
in order to maximize potential sales proceeds. There can be no guarantee
that either of these planned dispositions will actually close,” Mr.
Blackham continued.