NexPoint and Condor Merger Stalls

DALLAS and TORONTO — NexPoint Hospitality Trust provided an update on Wednesday on the previously announced acquisition of Condor Hospitality Trust, Inc. by NHT Operating Partnership, LLC, the Operating Partnership of NHT. The merger did not close on March 23, 2020; it was previously extended at the request of NHT. The parties remain in discussions regarding closing terms.

NexPoint Hospitality Trust first announced the $318 million merger in July 2019. Under the announced agreement, NHT would acquire 15 select-service and extended-stay hospitality properties, representing 1,908 guestrooms across eight U.S. states. The transaction would expand NHT’s geographic footprint into Georgia, Kansas, Kentucky, Maryland, Mississippi, and South Carolina and increase its presence in Florida and Texas.

 

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