X0306 4 2017-01-24 0 0000929545 CONDOR HOSPITALITY TRUST, INC. CDOR 0001037182 ELSZTAIN EDUARDO S 108 LER PISO CAPITAL FEDERAL BUENOS AIRES ARGENTINA SOUTH AMERICA C1 00000 ARGENTINA 1 0 1 0 0001476663 CONSULTORES ASSETS MANAGEMENT STOCK CORP BOLIVAR 108, PISO 2? BUENOS AIRES C1 C1066AAD ARGENTINA 1 0 1 0 0001476664 CONSULTORES VENTURE CAPITAL LTD RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO X3 91600 URUGUAY 1 0 1 0 0001034957 CRESUD INC MORENO 877 BUENOS AIRES C1 C1091AAQ ARGENTINA 1 0 1 0 0001476653 CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO X3 91600 URUGUAY 1 0 1 0 0001476665 AGROINVESTMENT STOCK CORP RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO X3 91600 URUGUAY 1 0 1 0 0001541641 REAL ESTATE STRATEGIES LP 2 CHURCH STREET HAMILTON D0 HM CX BERMUDA 1 0 1 0 0000933267 IRSA INVESTMENTS & REPRESENTATIONS INC BOLIVAR 108 BUENOS AIRES C1 C1066AAD ARGENTINA 1 0 1 0 0001477078 Ifis LTD FLORIDA 537, PISO 18? BUENOS AIRES C1 C1005AAK ARGENTINA 1 0 1 0 0001476654 INVERSIONES FINANCIERAS DEL SUR STOCK CORP RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO X3 91600 URUGUAY 1 0 1 0 Warrant (option to purchase) 0.001 2017-01-24 4 A 0 150540 A 2017-01-24 2019-01-24 Common Stock 150540 150540 D Warrant (option to purchase) 1.92 2017-01-24 4 D 0 3750000 D 2012-02-01 2017-01-31 Common Stock 3750000 0 D The reporting person exchanged 3,750,000 warrants and received 150,540 warrants in an issuer exchange offer under Section 3(a)(9) of the Securities Act of 1934, as amended, and also exempt transaction under Rule 16b-7. Members of the board of directors of the Issuer were designated by contractual right by Real Estate Strategies, LLC, and as a result, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting persons are deemed to be directors of the Issuer by deputization. This Form 4 is being filed in two parts due to the ten person reporting limitation of the electronic filing system. Part 1 is being filed by the following persons: Eduardo S. Elsztain, Consultores Assets Management, S.A., Consultores Venture Capital Limited, Cresud Sociedad Anonima Comercial, Consultores Venture Capital Uruguay, SA, Agroinvestment S.A., Real Estate Strategies L.P., IRSA Inversiones y Representaciones Sociedad Anonima, IFIS Limited, and Inversiones Financieras del Sur S.A. Part 2 is being filed by the following persons: Efanur S.A., Tyrus S.A. and Jiwin S.A. Please also see Exhibit. /s/ Eduardo S. Elsztain 2017-01-26 /s/ Consultores Assets Management, S.A. by Eduardo S. Elsztain, Chairman of the Board 2017-01-26 /s/ Consultores Venture Capital Limited by Eduardo S. Elsztain, Chairman of the Board 2017-01-26 /s/ Cresud Sociedad Anonima Comercial by Eduardo S. Elsztain, Chairman of the Board 2017-01-26 /s/ Consultores Venture Capital Uruguay, SA by Eduardo S. Elsztain, Chairman of the Board 2017-01-26 /s/ Agroinvestment S.A. by Eduardo S. Elsztain, Chairman of the Board 2017-01-26 /s/ Real Estate Strategies L.P. by Eduarado S. Elsztain, Chairman of the Board 2017-01-26 /s/ IRSA Inversiones y Representaciones Sociedad Anonima by Eduardo S. Elsztain, Chairman of the Board 2017-01-26 /s/ IFIS Limited by Eduardo S. Elsztain, Chairman of the Board 2017-01-26 /s/ Inversiones Financieras del Sur S.A. by Eduardo S. Elsztain, Chairman of the Board 2017-01-26