SEC Form 3 · accession 0000899243-18-019462

CONDOR HOSPITALITY TRUST, INC. · CDOR

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Real Estate Investment Group VII L.P.

Director · 10% Owner

Period of report

Jun 29, 2018

Accepted (ET)

Jul 5, 2018 · 4:34 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000929545

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	holding	—	—		—	2,197,023	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Series E Cumulative Convertible Preferred Stock^F1,F2,F3	$13.845	holding	—	—	—	Feb 28, 2019	—	Common Stock	235,285	—	D
Convertible Note^F1,F2,F4	$10.40	holding	—	—	—	Mar 16, 2016	—	Common Stock	64,964	—	I

Explanation of responses

F1Shares of Common Stock, shares of Series E Cumulative Convertible Preferred Stock and an interest in a convertible note of Condor Hospitality Trust, Inc. (the "Issuer") are owned by Real Estate Investment Group VII L.P., a limited partnership wholly-owned by Efanur S.A. ("Efanur") and Jiwin S.A. ("Jiwin"), each of which is a wholly-owned subsidiary of IRSA Inversiones y Representaciones Sociedad Anonima ("IRSA"). These securities were received as a pro rata in-kind distribution from Real Estate Strategies L.P. and continue to be indirectly beneficially owned by each of Efanur, Jiwin and IRSA, which had previously indirectly beneficially owned these while held by Real Estate Strategies L.P.
F2Members of the board of directors of the Issuer were designated by contractual right by Real Estate Strategies, LP, and as a result, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting person is deemed to be a director of the Issuer by deputization.
F3The Series E Cumulative Convertible Preferred Stock does not have an expiration date. Each share of Series E Preferred Stock is convertible, at the option of the holder, at any time on or after February 28, 2019, into a number of shares of common stock determined by dividing the conversion price of $13.845 into an amount equal to the $10.00 face value per share plus accrued and unpaid dividends, if any.
F4Represents an interest in a convertible note held by Real Estate Strategies L.P. Amounts under the convertible note are payable by the Issuer in full on any redemption repayment date of the Series E Cumulative Convertible Preferred Stock or, to the extent the Series E Cumulative Convertible Preferred Stock is redeemed only in part, a pro rata percentage of the convertible note is payable on such date, with the remainder of the note to remain outstanding.