0000900440-17-000017.txt : 20170302 0000900440-17-000017.hdr.sgml : 20170302 20170302191515 ACCESSION NUMBER: 0000900440-17-000017 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170228 FILED AS OF DATE: 20170302 DATE AS OF CHANGE: 20170302 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: CONDOR HOSPITALITY TRUST, INC. CENTRAL INDEX KEY: 0000929545 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 521889548 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1800 WEST PASEWALK AVE STE 200 CITY: NORFOLK STATE: NE ZIP: 68701 BUSINESS PHONE: 4023712520 MAIL ADDRESS: STREET 1: 1800 WEST PASEWALK AVE STE 200 CITY: NORFOLK STATE: NE ZIP: 68701 FORMER COMPANY: FORMER CONFORMED NAME: SUPERTEL HOSPITALITY INC DATE OF NAME CHANGE: 20050601 FORMER COMPANY: FORMER CONFORMED NAME: HUMPHREY HOSPITALITY TRUST INC DATE OF NAME CHANGE: 19940906 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: INVERSIONES FINANCIERAS DEL SUR STOCK CORP CENTRAL INDEX KEY: 0001476654 STATE OF INCORPORATION: X3 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660906 BUSINESS ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 BUSINESS PHONE: (5982)5182217 MAIL ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: IRSA INVESTMENTS & REPRESENTATIONS INC CENTRAL INDEX KEY: 0000933267 STANDARD INDUSTRIAL CLASSIFICATION: LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552] FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660908 BUSINESS ADDRESS: STREET 1: BOLIVAR 108 CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAD BUSINESS PHONE: 00541143237449 MAIL ADDRESS: STREET 1: BOLIVAR 108 CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAD REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CRESUD INC CENTRAL INDEX KEY: 0001034957 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] STATE OF INCORPORATION: C1 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660911 BUSINESS ADDRESS: STREET 1: MORENO 877 CITY: BUENOS AIRES STATE: C1 ZIP: C1091AAQ BUSINESS PHONE: 00541143237449 MAIL ADDRESS: STREET 1: MORENO 877 CITY: BUENOS AIRES STATE: C1 ZIP: C1091AAQ REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP CENTRAL INDEX KEY: 0001476653 STATE OF INCORPORATION: X3 FISCAL YEAR END: 0330 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660912 BUSINESS ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 BUSINESS PHONE: (5982)5182217 MAIL ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: ELSZTAIN EDUARDO S CENTRAL INDEX KEY: 0001037182 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660914 MAIL ADDRESS: STREET 1: 108 LER PISO CAPITAL FEDERAL STREET 2: BUENOS AIRES ARGENTINA CITY: SOUTH AMERICA STATE: C1 ZIP: 00000 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: AGROINVESTMENT STOCK CORP CENTRAL INDEX KEY: 0001476665 STATE OF INCORPORATION: X3 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660909 BUSINESS ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 BUSINESS PHONE: (5982)5182217 MAIL ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Ifis LTD CENTRAL INDEX KEY: 0001477078 STATE OF INCORPORATION: D0 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660907 BUSINESS ADDRESS: STREET 1: MINTFLOWER PLACE, 4TH FLOOR STREET 2: 8 PAR-LA-VILLE ROAD CITY: HAMILTON STATE: D0 ZIP: HM 08 BUSINESS PHONE: (54)1151667000 MAIL ADDRESS: STREET 1: FLORIDA 537, PISO 18? CITY: BUENOS AIRES STATE: C1 ZIP: C1005AAK REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CONSULTORES ASSETS MANAGEMENT STOCK CORP CENTRAL INDEX KEY: 0001476663 STATE OF INCORPORATION: C1 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660913 BUSINESS ADDRESS: STREET 1: BOLIVAR 108, PISO 2? CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAD BUSINESS PHONE: (54)1143237522 MAIL ADDRESS: STREET 1: BOLIVAR 108, PISO 2? CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAD REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CONSULTORES VENTURE CAPITAL LTD CENTRAL INDEX KEY: 0001476664 STATE OF INCORPORATION: E9 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660910 BUSINESS ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 BUSINESS PHONE: (5982)5182217 MAIL ADDRESS: STREET 1: RUTA 8, KM. 17.500 STREET 2: EDIFICIO 3, LOCAL 3 CITY: MONTEVIDEO STATE: X3 ZIP: 91600 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: REAL ESTATE STRATEGIES LP CENTRAL INDEX KEY: 0001541641 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34087 FILM NUMBER: 17660915 BUSINESS ADDRESS: STREET 1: 2 CHURCH STREET CITY: HAMILTON STATE: D0 ZIP: HM CX BUSINESS PHONE: (441) 299 4925 MAIL ADDRESS: STREET 1: 2 CHURCH STREET CITY: HAMILTON STATE: D0 ZIP: HM CX 4 1 primary_doc.xml PRIMARY DOCUMENT X0306 4 2017-02-28 0 0000929545 CONDOR HOSPITALITY TRUST, INC. CDOR 0001541641 REAL ESTATE STRATEGIES LP 2 CHURCH STREET HAMILTON D0 HM CX BERMUDA 1 0 1 0 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 0001476653 CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP 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 0001476664 CONSULTORES VENTURE CAPITAL LTD 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 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 Common Stock 2017-02-28 4 C 0 20282225 1.6 A 21213448 D Common Stock 312500 I Efanur, S.A., an affiliate Series D Cumulative Convertible Preferred Stock 1.6 2017-02-28 4 C 0 3245156 0 D 2016-03-16 Common Stock 20282225 0 D Series E Cumulative Convertible Preferred Stock 2.13 2017-02-28 4 A 0 487738 10 A 2019-02-28 Common Stock 2289849 487378 D The Series D Cumulative Convertible Preferred Stock does not have an expiration date. 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. The Series E Cumulative Convertible Preferred Stock does not have an expiration date. 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. /s/ Eduardo S. Elsztain 2017-03-02 /s/ Real Estate Strategies L.P. by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ Consultores Assets Management, S.A. by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ Consultores Venture Capital Limited by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ Cresud Sociedad Anonima Comercial by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ Consultores Venture Capital Uruguay SA by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ Agroinvestment S.A. by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ IRSA Inversiones y Representaciones Sociedad Anonima by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ IFIS Limited by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 /s/ Inversiones Financieras del Sur S.A. by Eduardo S. Elsztain, Chairman of the Board 2017-03-02 EX-99 2 exhibit1.htm

Explanation for responses:

This statement is being filed jointly by Mr. Eduardo S. Elsztain (“Elsztain”), Consultores Assets Management S.A. (“CAM”), Consultores Venture Capital Uruguay S.A. (“CVC Uruguay”), Agroinvestment S.A. (“Agroinvestment”), Consultores Venture Capital Ltd. (“CVC Cayman”), Ifis Limited (“IFIS”), Inversiones Financieras del Sur S.A. (“IFISA”), Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (“Cresud”), IRSA Inversiones y Representaciones Sociedad Anónima ("IRSA"), Tyrus S.A. (“Tyrus”), Jiwin S.A. (“Jiwin”), Efanur SA (“Efanur”) and Real Estate Strategies L.P. (“RES” and together with Elsztain, CAM, CVC Uruguay, Agroinvestment, CVC Cayman, IFIS, IFISA, Cresud, IRSA, Tyrus, Jiwin and Efanur the "Reporting Persons").

Mr. Elsztain is a citizen of the Republic of Argentina who serves as Chairman of the board of directors of each of the following companies, except for RES, IFIS and CVC Cayman:

(i)
IFIS, a limited liability company organized under the laws of Bermuda;
(ii)
IFISA, a stock corporation organized under the laws of the Republic of Uruguay;
(iii)
Cresud, a stock corporation organized under the laws of the Republic of Argentina;
(iv)
IRSA, a stock corporation organized under the laws of the Republic of Argentina;
(v)
CAM, a stock corporation company organized under the laws of Argentina;
(vi)
CVC Cayman, a stock corporation organized under the laws of Cayman Island;
(vii)
CVC Uruguay, a stock corporation organized under the laws of the Republic of Uruguay;
(viii)
Agroinvestment, a stock corporation organized under the laws of the Republic of Uruguay;
(ix)
Tyrus, a stock corporation organized under the laws of the Republic of Uruguay;
(x)
Jiwin, a stock corporation organized under the laws of the Republic of Uruguay, who serves as general partner of Real Estate Strategies L.P.;
(xi)
Efanur, a stock corporation organized under the laws of the Republic of Uruguay, who is the major limited partner of RES;
(xii)
RES, a limited partnership organized under the laws of Bermuda.

Elsztain’s principal offices are located at Bolívar 108, 1st floor, Buenos Aires, Argentina; IFIS’ principal offices are located at Clarendon House, 2 Church Street, Hamilton HM 08 Bermuda; IFISA’s principal offices are located at Ruta 8, 17,500, Edificio @1 Local 106, CP 91609, Montevideo, Republic of Uruguay; Cresud’s principal offices are located at Moreno 877, 23rd Floor, (C1091AAQ) Ciudad Autónoma de Buenos Aires, Argentina; IRSA’s principal offices are located at Bolivar 108, 1st floor, Buenos Aires, Argentina; CAM’s principal offices are located at Bolívar 108, 1st floor, Buenos Aires, Argentina; CVC Cayman’s principal offices are located at 89 Nexus Way, 2nd floor Camana Bay, P.O. Box 31106, SMB, Grand Cayman, KY1-1205, Cayman Islands; CVC Uruguay’s principal offices are located at Ruta 8, 17,500, Edificio @1 Local 106, CP 91609 Montevideo, of the Republic of Uruguay; Agroinvestment’s principal offices are located at Cambara 1620, of 202, 11500, Montevideo, Republic of Uruguay; Tyrus’ principal offices are located at Colonia 810, Of. 403, CP 11000, Montevideo, Republic of Uruguay, Jiwin’s principal offices are located at Colonia 810, Of. 403, CP 11000, Montevideo, Republic of Uruguay, Efanur’s principal offices are located at Rincón 468 7º floor, Montevideo, 11.000 Republic of Uruguay and RES´ principal offices are located at Clarendon House 2 Church Street, Hamilton HM CX, Bermuda.

The reported securities may be deemed to be indirectly beneficially owned by the list of entities described on the previous paragraphs except for RES whose direct beneficial ownership is listed below. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

As of February 28, 2017:

(i)
Elsztain is the Chairman of the Board of Directors of IFISA, Cresud, CAM, CVC Uruguay, Agroinvestment, IRSA, Efanur, Jiwin and Tyrus, except for RES, a company in which Jiwin (a company wholly owned by IRSA) is the General Partner
(ii)
Elsztain is the beneficial owner of 59% of IFIS by virtue of his indirect holdings in IFIS and powers of attorney granted to him. Elsztain also owns 85.0 of CAM which owns 0.0002% of Cresud and 100% of CVC Uruguay which in turn owns 0.0002% of Cresud’s shares and 100% of CVC Cayman. None of these companies directly own Common Stock of Condor Hospitality Trust, Inc. (“CDOR”). Elsztain also directly owns 0.0002% of IRSA’s outstanding stock and 0.02% of Cresud’s shares;
(iii)
CVC Cayman serves as the Investment Manager of IFIS;
(iv)
IFIS is the direct owner of 100% of the common stock of IFISA;
(v)
IFISA directly owns 30.79% of Cresud’s shares. IFISA does not directly own CDOR’s Common Stock.  Furthermore, according to an agreement between Mr. Eduardo Elsztain, IFIS and Cougar Capital Strategies LLC., pursuant to which IFIS undertook to deliver to Cougar 1,955,870 American Depositary Receipts (hereinafter “Cresud Shares) of Cresud. As a result of the Settlement Agreement, on October 30, 2017 (i) Cougar shall have the right to sell to Elsztain all but not less than all of the Cresud Shares then-held by Cougar and (ii) Elsztain shall have the right to purchase all but not less than all of the Cresud Shares then-held by Cougar.  Moreover, at any time from the date of the settlement agreement until the date of the exercise of the put/call option, Elsztain shall have a right of first offer if Cougar propose to transfer any Cresud Shares to any third party.  Additionally, and pursuant the provisions of the Agreement, under certain circumstances Cougar undertakes to vote or cause to be voted the Cresud Shares as instructed by IFIS;
(vi)
Cresud directly owns 62.99% of IRSA’s common shares. Cresud does not directly own CDOR’s Common Stock;
(vii)
IRSA owns 100% of Tyrus’. IRSA does not directly own CDOR’s Common Stock;
(viii)
Tyrus owns 100% of the capital stock of Jiwin. Tyrus does not directly own CDOR’s Common Stock;
(ix)
Jiwin serves as general Partner of RES; Jiwin does not directly own CDOR’s Common Stock;
(x)
Efanur is the major limited Partner of RES. Efanur owns directly 312,500 of CDOR’s Common Stock; RES owns 949,223 Shares of Common Stock of Condor and 3,245,156 shares of Series D Stock convertible into 20,282,225 shares of CDOR’s Common Stock and a Note convertible for Series D Stock (which is convertible for up to 632,249 shares of CDOR’s Common Stock), subject to the 49% limitation.
(i)
Eduardo S. Elsztain
IRSA Inversiones y Representaciones Sociedad Anónima

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
   
Consultores Assets Management S.A.
IFIS Limited

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
   
Consultores Venture Capital Limited
Inversiones Financieras del Sur S.A.

By:      /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
   
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria
Efanur S.A.

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board

By:      /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
   
Consultores Venture Capital Uruguay SA
Tyrus S.A.

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
   
Agroinvestment S.A.
Jiwin S.A.

By:    /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board

By:     /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
   
Real Estate Strategies LP
  

By:   /s/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board