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CUSIP No. 20676Y403
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Schedule 13D
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Page
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This Amendment No. 6 to the Statement on Schedule 13D (this Amendment
No. 6) amends the Statement on Schedule 13D originally filed with the Securities and Exchange Commission on March 25, 2016, as amended by Amendment No. 1 thereto filed on March 3, 2017, Amendment No. 2 thereto filed on
April 4, 2017, Amendment No. 3 thereto filed on July 23, 2019, Amendment No. 4 thereto filed on November 23, 2020 and Amendment No. 5 thereto filed on July 7, 2021 (the Schedule 13D), which relates to
the shares of Common Stock of Condor Hospitality Trust, Inc., a Maryland corporation (Issuer). Capitalized terms used and not defined in this Amendment No. 6 have the meanings set forth in the Schedule 13D.
This Amendment No. 6 amends and supplements the Schedule 13D as follows. Except as provided herein, this Amendment No. 6 does not
modify any of the information previously reported on such Schedule 13D, including any amendment thereto.
Item 4. Purpose of the Transaction
Item 4 of the Schedule 13D is hereby amended and supplemented to include the following:
Exercise of Put Rights in Respect of Series E Stock
On July 29, 2021, the Issuer issued 1,269,985 shares of Common Stock to SREP III Flight-Investco, L.P to effect the redemption of all
437,262 shares of the Series E Cumulative Convertible Preferred Stock (the Shares) held by Investco at a value per share equal to 130% of the $10 liquidation preference of the Shares, plus accrued and unpaid dividends, pursuant to the
terms of the Shares.
Item 5. Interest in Securities of the Issuer
Item 5 is amended to replace (a) and (b) as follows:
As of the date hereof, the Reporting Persons beneficially own an aggregate of 4,184,213 shares of Common Stock. Such shares represent
approximately 34.8% of the Issuers Common Stock outstanding, which percentage was calculated based on 12,026,950 shares of Common Stock outstanding as of May 7, 2021 as reported in the Issuers Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021. The Reporting Persons also own the Convertible Promissory Note and Loan Agreement (the Note), dated as of November 18, 2020, which, after the
occurrence of specified events that are outside the control of the Reporting Persons, may be convertible into 2,888,178 shares of Common Stock issuable upon conversion of the Note.
StepStone Group Real Estate Holdings LLC (Real Estate Holdings), as general partner of StepStone Group Real Estate, LP
(Group Real Estate), the sole member and investment manager of StepStone REP III (GP), LLC (Investco GP), the general partner of each of Investco and SREP III Flight Investco 2, L.P. (Investco 2), may be
deemed to beneficially own the Common Stock and the Note held by Investco and Investco 2, respectively.
Group Real Estate, the sole
member and investment manager of Investco GP, the general partner of each of Investco and Investco 2, may be deemed to beneficially own the Common Stock and the Note held by Investco and Investco 2, respectively.
Investco GP, the general partner of each of Investco and Investco 2, may be deemed to beneficially own the Common Stock and the Note held by
Investco and Investco 2, respectively.
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