NexPoint Hospitality Trust Announces Termination Of Merger Agreement By Condor Hospitality Trust
DALLAS and TORONTO, Sept. 21, 2020 /CNW/ -- NexPoint Hospitality Trust ("NHT")(TSXV: NHT.U) announced today that Condor Hospitality Trust, Inc. ("Condor") has delivered notice of termination of the merger agreement with NHT Operating Partnership, LLC, the operating partnership of NHT, and certain affiliates of NHT, effective September 18, 2020. As a result of the termination by Condor, NHT's merger with Condor will not proceed. NHT and its affiliates refute assertions made in connection with the termination. Management of NHT is reviewing the implications of the termination and reserves all rights and remedies in connection therewith.
About NexPoint Hospitality Trust
NexPoint Hospitality Trust is a publicly traded real estate investment trust, with its units listed on the TSX Venture Exchange under the ticker NHT.U. NHT is 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. NHT owns 11 branded properties sponsored by Marriott, Hilton and InterContinental Hotels Group, located across the U.S., specifically in the Seattle, Portland, Dallas, Nashville and St. Petersburg markets. NHT is externally advised by NexPoint Real Estate Advisors VI, L.P. For more information, visit www.nexpointhospitality.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Financial Officer
SOURCE NexPoint Hospitality Trust
Company Codes: TorontoVE:NHT.U
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