M&A Deal Summary

NexPoint Hospitality Trust Acquires Condor Hospitality Trust

On July 22, 2019, NexPoint Hospitality Trust acquired real estate company Condor Hospitality Trust for 318M USD

Acquisition Highlights
  • This is NexPoint Hospitality Trust’s 1st transaction in the Real Estate sector.
  • This is NexPoint Hospitality Trust’s largest (disclosed) transaction.
  • This is NexPoint Hospitality Trust’s 1st transaction in the United States.
  • This is NexPoint Hospitality Trust’s 1st transaction in Maryland.

M&A Deal Summary
Date 2019-07-22
Target Condor Hospitality Trust
Sector Real Estate
Buyer(s) NexPoint Hospitality Trust
Deal Type Add-on Acquisition
Deal Value 318M USD
Advisor(s) KeyBanc Capital Markets (Financial)
McGrath North Mullin & Kratz (Legal)

Target

Condor Hospitality Trust

Bethesda, Maryland, United States
Condor Hospitality Trust, Inc. is a self-administered real estate investment trust that 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 (“MSAs”) 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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Buyer(S) 1

Buyer

NexPoint Hospitality Trust

Toronto, Ontario, Canada
Category Company
Sector Real Estate
Revenue 71M USD (2023)
DESCRIPTION

NexPoint Hospitality Trust is a real estate investment trust focused on acquiring, owning, and operating well-located hospitality properties in the United States that offer a high current yield and in many cases, that are underperforming assets with the potential to increase in value through investments in capital improvements, a market-based recovery, brand repositioning, revenue enhancements, operational improvements, reducing expense inefficiencies, and exploiting excess land or underutilized space. NexPoint Hospitality Trust is based in Toronto, Ontario.

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

Company

Legal