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Section 1: SC 13D/A (SC 13D/A)

SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN

STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND

AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

Under the Securities Exchange Act of 1934

(Amendment No. 6)*

 

 

Condor Hospitality Trust, Inc. (CDOR)

(Name of Issuer)

Common Stock

(Title of Class of Securities)

20676Y403

(CUSIP Number)

 

Saúl Zang

Juan Manuel Quintana

Carolina Zang

Pablo Vergara del Carril

Zang, Bergel y Viñes Abogados

Florida 537, 18th Floor C1005AAK

Buenos Aires, Argentina

+54(11) 4322-0033

+54 (11) 5166-7000

(Name, Address and Telephone Number of Person authorized to Receive Notices and Communications)

March 29, 2017

(Date of Event which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to who copies are to be sent.

 

 

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 20676Y403    Page 2 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Eduardo S. Elsztain

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Argentina

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882*

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882*

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882*

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

IN

 

* The Reporting Persons beneficially own 3,434,882 shares of common stock, $0.01 par value per share (“Common Stock”), consisting of (i) 3,314,453 shares of Common Stock, (ii) 97,269 shares of Common Stock issuable upon conversion of a promissory note, and (iii) 23,610 shares of Common Stock issuable upon exercise of warrants. The percentage of class shown represents the percentage based on 11,540,689 shares of Common Stock outstanding as of March 31, 2017.


CUSIP No. 20676Y403    Page 3 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Agroinvestment S.A.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Uruguay

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882*

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882*

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882*

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 4 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

IFIS Limited

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Bermuda

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 5 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Inversiones Financieras del Sur S.A.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Uruguay

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 6 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Cresud Sociedad Anónima Comercial Inmobiliaria

Financiera y Agropecuaria

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Argentina

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 7 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Consultores Venture Capital Limited

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Cayman Islands

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 8 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Consultores Assets Management S.A.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Argentina

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 9 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Consultores Venture Capital Uruguay S.A.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Uruguay

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 10 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

IRSA Inversiones y Representaciones Sociedad Anónima

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)          (b)  

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Argentina

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 11 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Efanur S.A.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Uruguay

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 12 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Tyrus S.A.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Uruguay

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 13 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Jiwin S.A.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Republic of Uruguay

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

CO

 

* Refer to note at bottom of Page 2.

.


CUSIP No. 20676Y403    Page 14 of 25 Pages

 

  1.       

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Real Estate Strategies L.P.

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☒        (b)  ☐

 

  3.  

SEC USE ONLY

 

  4.  

SOURCE OF FUNDS

 

AF - WC

  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Bermuda

NUMBER OF

SHARES

BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.        

SOLE VOTING POWER

 

0

     8.   

SHARED VOTING POWER

 

3,434,882

     9.   

SOLE DISPOSITIVE POWER

 

0

   10.   

SHARED DISPOSITIVE POWER

 

3,434,882

11.      

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,434,882

12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

29.5%*

14.  

TYPE OF REPORTING PERSON

 

PN

 

* Refer to note at bottom of Page 2.


CUSIP No. 20676Y403    Page 15 of 25 Pages

 

Item 1. Security and Issuer

This Amendment No. 6 amends and supplements the statement on Schedule 13D (the “Statement”) originally filed with the Securities and Exchange Commission on February 13, 2012, and as amended on February 17, 2012, and as amended on June 18, 2014 and as amended on March 23, 2016, and as amended on January 27, 2017 , and as amended on February 28, 2017 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”) relating to the common stock, par value $0.01 per share (the “Common Stock”) of Condor Hospitality Trust, Inc., a Maryland corporation (“Condor”) beneficially owned by the Reporting Persons. Unless otherwise indicated, each capitalized term used but not defined herein shall have the meaning assigned to such term in the Statement. From and after the date hereof, all references in the Statement to the Statement or terms of similar import shall be deemed to refer to the Statement as amended and supplemented hereby. Information regarding the ownership of Common Stock set forth herein is as of the close of business on March 29, 2017. The address of the principal executive offices of Condor is 4800 Montgomery Lane, Suite 220, Bethesda, MD 20814.

 

Item 2. Identity and Background

Item 2 is amended to add the following:

(d) None of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) within the last five years.

(e) During the last five years, none of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation of such laws.

 

Item 5. Interests in Securities of the Issuer

Item 5 is hereby amended and restated in its entirety as follows:

On March 29, 2017, Condor announced the closing of its underwritten public offering of 4,772,500 shares of its common stock at a public offering. Solely as a result of the increase of the outstanding shares of Common Stock on the closing of the offering, the Reporting Persons are filing this Amendment No. 6 to the Statement to reflect the change in the percentage of the beneficial ownership of the Reporting Persons from 49% to 29.5%. All share numbers herein reflect a 6.5-to-1 reverse stock split of the Common Stock effected by Condor on March 15, 2017.

The Reporting Persons beneficially own 3,434,882 shares of Common Stock consisting of (i) 3,314,453 shares of Common Stock, (ii) 97,269 shares of Common Stock issuable on conversion of a convertible promissory note in $1,011,599 principal amount, at a conversion price of $10.40 per share of Common Stock, and (iii) 23,160 shares of Common Stock issuable on exercise of warrants, at an exercise price of $0.0065 per share of Common Stock. The Reporting Persons beneficially own 487,738 shares of


CUSIP No. 20676Y403    Page 16 of 25 Pages

 

Series E Stock which are not presently, or within 60 days, convertible into 352,284 shares of Common Stock.

 

(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% of CAM which owns 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. 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 shares of IFISA;

 

(v) IFISA directly owns 30.79% of Cresud’s shares. IFISA does not directly own 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 and indirectly owns 63.38% of IRSA’s common shares. Cresud does not directly own Common Stock;


CUSIP No. 20676Y403    Page 17 of 25 Pages

 

(vii) IRSA owns 100% of Tyrus’ and Efanur’s capital stock. IRSA does not directly own Common Stock;

 

(viii) Tyrus owns 100% of the capital stock of Jiwin. Tyrus does not directly own Common Stock;

 

(ix) Jiwin serves as general Partner of RES; Jiwin does not directly own Common Stock;

 

(x) Efanur is the major limited partner of RES. Efanur owns directly 48,076 shares of Common Stock; and

 

(xi) RES owns directly 3,266,377 Shares of Common Stock of Condor. RES owns directly 487,738 shares of Series E Stock, which is not presently, or within 60 days, convertible into 352,284 shares of Common Stock. RES holds directly the Note convertible for up to 97,269 shares of Common Stock, subject to the 49% ownership limitation. Also, RES owns warrants of Condor, with no voting rights, exercisable into 23,160 Common Stock of Condor, subject to a 49.5% ownership limitation.

Given the foregoing, as of March 29, 2017, the Reporting Persons may be deemed to be currently the beneficial owners of 3,434,882 shares of Common Stock, representing approximately 29.5% of the voting stock of Condor.

 

(b)

   Item 5(a) is incorporated herein by reference.

(c)-(e)

   Not applicable.


CUSIP No. 20676Y403    Page 18 of 25 Pages

 

Schedule A

Eduardo S. Elsztain

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

Directors of IFIS Limited

 

1.   

Eduardo S. Elsztain

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

  3.   

Mariana Renata Carmona de Elsztain

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

2.   

Saul Zang

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

  4.   

Alejandro Gustavo Elsztain

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

Directors of Consultores Venture Capital Uruguay S.A.

 

1.   

Eduardo S. Elsztain (Chairman)

Director

Ruta 8K 17.500 Edificio@3 Local 003,

CP 91609 Montevideo

Republic of Uruguay

Citizen of Argentina

  3.   

Olga Stirling

Director

Ruta 8K 17.500 Edificio@3 Local 003,

CP 91609 Montevideo

Citizen of Uruguay

2.   

Eduardo Simon Bartfeld

Director

Ruta 8K 17.500 Edificio@3 Local 003,

CP 91609 Montevideo

Citizen of Uruguay

  4.   

Saul Zang

Director

Ruta 8K 17.500 Edificio@3 Local 003,

CP 91609 Montevideo

Citizen of Argentina

Directors of Consultores Assets Management S.A.

 

1.   

Eduardo S. Elsztain (Chairman)

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

  3.   

Mariana Renata Carmona de Elsztain

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Saul Zang

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

  4.   

Gerardo Tyszberowicz

Alternate Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina


CUSIP No. 20676Y403    Page 19 of 25 Pages

 

Directors of Consultores Venture Capital Limited

 

1.  

Eduardo S. Elsztain (Chairman)

Director

89 Nexus Way, 2nd floor

Camana Bay, P.O. Box 31106, SMB

Grand Cayman, KY1-1205, Cayman Islands

Citizen of Argentina

  2.   

Saul Zang

Director

89 Nexus Way, 2nd floor

Camana Bay, P.O. Box 31106, SMB

Grand Cayman, KY1-1205, Cayman Islands

Citizen of Argentina

Directors of Inversiones Financieras del Sur S.A.

 

1.   

Eduardo S. Elsztain

Chairman of the Board

Zabala 1422, 2nd floor

(11500) Montevideo

Republic of Uruguay

Citizen of Argentina

  3.   

Eduardo Simon Bartfeld

Director

Zabala 1422, 2nd floor

(11500) Montevideo

Citizen of Uruguay

2.   

Saúl Zang

Director

Zabala 1422, 2nd floor

(11500) Montevideo

Citizen of Argentina

  4.   

Olga Stirling

Director

Zabala 1422, 2nd floor

(11500) Montevideo

Citizen of Uruguay

Directors of Agroinvestment S.A.

 

1.   

Eduardo S. Elsztain

Chairman of the Board

Colonia 810, Of. 803

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

  3.   

Eduardo Simon Bartfeld

Director

Colonia 810, Of. 803

(11000) Montevideo

Citizen of Uruguay

2.   

Mariana Renata Carmona de Elsztain

Director

Colonia 810, Of. 803

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

    


CUSIP No. 20676Y403    Page 20 of 25 Pages

 

Directors and Executive Officers of

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria

Directors

 

1.   

Eduardo Sergio Elsztain

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  9.   

Daniel E. Melicovsky

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Saúl Zang

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  10.   

Alejandro Casaretto

Director

Moreno 877, 23rd Floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

3.   

Alejandro Gustavo Elsztain

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  11.   

Salvador Darío Bergel

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

4.   

Gabriel Adolfo Reznik

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  12.   

Gastón Armando Lernoud

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

5.   

Jorge Oscar Fernández

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  13.   

Enrique Antonini

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

6.   

Fernando Adrián Elsztain

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  14.   

Eduardo Kalpakian

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

7.   

Pedro Damaso Labaqui Palácio

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

    


CUSIP No. 20676Y403    Page 21 of 25 Pages

 

Senior Management

 

1.   

Alejandro Gustavo Elsztain

Chief Executive Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  4.   

Carlos Blousson

Chief Executive Officer of the International Operation (Paraguay, Bolivia and Uruguay)

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Matías Iván Gaivironsky

Chief Financial Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

    


CUSIP No. 20676Y403    Page 22 of 25 Pages

 

Directors and Executive Officers of

IRSA Inversiones y Representaciones Sociedad Anónima

Directors

 

1.   

Eduardo Sergio Elsztain

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

  11.   

Mauricio Wior

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Saul Zang

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

  12.   

Mario Blejer

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

3.   

Alejandro Gustavo Elsztain

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

  13.   

Ricardo Liberman

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

4.   

Fernando Adrián Elsztain

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

  14.   

Gabriel A. Reznik

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

5.   

Carlos Ricardo Estevez

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

  15.   

Salvador D. Bergel

Alternate Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

6.   

Cedric D. Bridger

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

  16.   

Enrique Antonini

Alternate Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

7.   

Daniel R. Elsztain

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

    


CUSIP No. 20676Y403    Page 23 of 25 Pages

 

8.   

Marcos Moisés Fishman

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

9.   

Fernando Rubín

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

10.   

Gary S. Gladstein

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of USA

Senior Management

 

1.   

Eduardo Sergio Elsztain

Chief Executive Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

  3.   

Daniel R. Elsztain

Chief Real Estate Business Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Matías Iván Gaivironsky

Chief Financial Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

    


CUSIP No. 20676Y403    Page 24 of 25 Pages

 

Tyrus S.A.

 

1.   

Eduardo S. Elsztain

Chairman of the Board

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

  3.   

Alejandro Gustavo Elsztain

Director

Colonia 810, Of. 403

(11000) Montevideo

Citizen of Uruguay

2.   

Saúl Zang

Director

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

  4.   

Olga Stirling

Director

Colonia 810, Of. 403

(11000) Montevideo

Citizen of Uraguay

Jiwin S.A.

 

1.   

Eduardo S. Elsztain

Chairman of the Board

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

  3.   

Alejandro Gustavo Elsztain

Director

Colonia 810, Of. 403

(11000) Montevideo

Citizen of Uruguay

2.   

Saúl Zang

Director

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

  4.   

Olga Stirling

Director

Colonia 810, Of. 403

(11000) Montevideo

Citizen of Uraguay

Efanur S.A.

 

1.   

Eduardo S. Elsztain

Chairman of the Board

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

  3.   

Alejandro Gustavo Elsztain

Director

Colonia 810, Of. 403

(11000) Montevideo

Citizen of Uruguay

2.   

Saúl Zang

Director

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

  4.   

Olga Stirling

Director

Colonia 810, Of. 403

(11000) Montevideo

Citizen of Uraguay


CUSIP No. 20676Y403    Page 25 of 25 Pages

 

SIGNATURE

After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this Statement on Schedule 13D is true, complete and correct.

DATED: April 6, 2017

 

Eduardo S. Elsztain     Consultores Assets Management S.A.
By:  

/s/ Eduardo S. Elsztain

    By:  

/s/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain     Name:   Eduardo S. Elsztain
      Title:   Chairman of the Board
IFIS Limited     Consultores Venture Capital Limited
By:  

/s/ Eduardo S. Elsztain

    By:  

/s/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain     Name:   Eduardo S. Elsztain
Title:   Director of the Board     Title:   Director of the Board
Inversiones Financieras del Sur S.A.    

Cresud Sociedad Anónima Comercial,

Inmobiliaria, Financiera y Agropecuaria

By:  

/s/ Eduardo S. Elsztain

    By:  

/s/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain     Name:   Eduardo S. Elsztain
Title:   Chairman of the Board     Title:   Chairman of the Board
Consultores Venture Capital Uruguay     Efanur S.A.
By:  

/s/ Eduardo S. Elsztain

    By:  

/s/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain     Name:   Eduardo S. Elsztain
Title:   Chairman of the Board     Title:   Chairman of the Board
Tyrus S.A.     Agroinvestment S.A.
By:  

/s/ Eduardo S. Elsztain

    By:  

/s/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain     Name:   Eduardo S. Elsztain
Title:   Chairman of the Board     Title:   Chairman of the Board
Real Estate Strategies L.P.     Jiwin S.A.
By:   Jiwin S.A., its general partner    

By:

Name:

Title:

 

/s/ Eduardo S. Elsztain

 

By:

 

/s/ Eduardo S. Elsztain

     

Eduardo S. Elsztain

Chairman of the Board

Name:   Eduardo S. Elsztain      
Title:   Chairman of the Board      
Irsa Inversiones y Representaciones Sociedad Anonima      
By:  

/s/ Eduardo S. Elsztain

     
Name:   Eduardo S. Elsztain      
Title:   Chairman of the Board      
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