Ifis Form 4 CONDOR HOSPITALITY TRUST / EDUARDO S ELSZTAIN ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:	3235-0287
Estimated average burden
hours per response:	0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

REAL ESTATE STRATEGIES LP

(Last) (First) (Middle)

BOLIVAR 108

(Street)

BUENOS AIRES C1 066AAD

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CONDOR HOSPITALITY TRUST, INC. [ CDOR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series D Preferred Stock	$1.6	03/16/2016		A		3,245,156		03/16/2016	(1)	Common Stock	20,282,225	(1)	3,245,156	D
Series C Preferred Stock	$1.6	03/16/2016		D			3,000,000	02/01/2012	(1)	Common Stock	18,750,000	(1)	0	D

1. Name and Address of Reporting Person^*

REAL ESTATE STRATEGIES LP

(Last) (First) (Middle)

BOLIVAR 108

(Street)

BUENOS AIRES C1 066AAD

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

ELSZTAIN EDUARDO S

(Last) (First) (Middle)

108 LER PISO CAPITAL FEDERAL

BUENOS AIRES ARGENTINA

(Street)

SOUTH AMERICA C1 00000

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

CONSULTORES ASSETS MANAGEMENT STOCK CORP

(Last) (First) (Middle)

BOLIVAR 108, PISO 2

(Street)

BUENOS AIRES C1 C1066AAD

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

CONSULTORES VENTURE CAPITAL LTD

(Last) (First) (Middle)

RUTA 8, KM. 17.500

EDIFICIO 3, LOCAL 3

(Street)

MONTEVIDEO X3 91600

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

CRESUD INC

(Last) (First) (Middle)

MORENO 877

(Street)

BUENOS AIRES C1 C1091AAQ

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP

(Last) (First) (Middle)

RUTA 8, KM. 17.500

EDIFICIO 3, LOCAL 3

(Street)

MONTEVIDEO X3 91600

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

AGROINVESTMENT STOCK CORP

(Last) (First) (Middle)

RUTA 8, KM. 17.500

EDIFICIO 3, LOCAL 3

(Street)

MONTEVIDEO X3 91600

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

IRSA INVESTMENTS & REPRESENTATIONS INC

(Last) (First) (Middle)

BOLIVAR 108

(Street)

BUENOS AIRES C1 C1066AAD

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

Ifis LTD

(Last) (First) (Middle)

FLORIDA 537, PISO 18

(Street)

BUENOS AIRES C1 C1005AAK

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

INVERSIONES FINANCIERAS DEL SUR STOCK CORP

(Last) (First) (Middle)

RUTA 8, KM. 17.500

EDIFICIO 3, LOCAL 3

(Street)

MONTEVIDEO X3 91600

(City) (State) (Zip)

Explanation of Responses:

1. The reporting person exchanged 3,000,000 shares of Series C Preferred Stock and received 3,245,256 shares of Series D Preferred Stock in an issuer exchange offer. Neither Series C Preferred Stock or Series D Preferred Stock have an Expiration Date.

Remarks:

(2) 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. (3) Please also see Exhibit. Form 1 of 2.

	Eduardo S. Elsztain, By: s/ Eduardo Elsztain, Name: Eduardo S. Elsztain	03/22/2016
	Consultores Assets Management S.A., By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	Consultores Venture Capital Limited, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	Consultores Venture Capital Uruguay SA, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	Agroinvestment S.A., By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	Real Estate Strategies LP, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	IRSA Inversiones y Representaciones Sociedad Anonima, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	IFIS Limited, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	Inversiones Financieras del Sur S.A., By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board	03/22/2016
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.