Condor to pay down debt under credit facility via legacy hotel sale

By Sarah Lizee

Olympia, Wash., March 25 – Condor Hospitality Trust, Inc. plans to pay down debt under its $150 million secured credit facility using proceeds from the sale of a legacy hotel asset, according to a press release.

The company announced Monday that it closed the sale of its 59-room Quality Inn & Marina in Solomons, Md., for $4.3 million.

Condor is a real estate investment trust based in Bethesda, Md., that invests in and owns hotels.

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