Sec Form 4 Filing - IRSA INVESTMENTS & REPRESENTATIONS INC @ CONDOR HOSPITALITY TRUST, INC. - 2021-07-29

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person IRSA INVESTMENTS & REPRESENTATIONS INC 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) (Last) (First) (Middle) BOLIVAR 108, 3. Date of Earliest Transaction (MM/DD/YY) 07/29/2021 (Street) BUENOS AIRES, C1C1066AAD 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Common Stock 07/29/2021 M 1,416,586 A $ 0 4,754,198 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 E Cumulative Convertible Preferred Stock ( 1 ) ( 2 ) 07/29/2021 M 487,738 ( 1 )( 2 ) ( 1 )( 2 ) Common Stock 1,416,586 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other IRSA INVESTMENTS & REPRESENTATIONS INC BOLIVAR 108 BUENOS AIRES, C1C1066AAD X X ELSZTAIN EDUARDO S BOLIVAR 108 1??P BUENOS AIRES, C100000 X X CONSULTORES ASSETS MANAGEMENT STOCK CORP BOLIVAR 108, PISO 2? BUENOS AIRES, C1C1066AAD X X CONSULTORES VENTURE CAPITAL LTD RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO, X391600 X X CRESUD INC MORENO 877 BUENOS AIRES, C1C1091AAQ X X REAL ESTATE STRATEGIES LP 2 CHURCH STREET HAMILTON, D0HM CX X X Ifis LTD FLORIDA 537, PISO 18? BUENOS AIRES, C1C1005AAK X X INVERSIONES FINANCIERAS DEL SUR STOCK CORP RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO, X391600 X X AGROINVESTMENT STOCK CORP RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO, X391600 X X CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO, X391600 X X Signatures /s/ IRSA Investments and Representations Inc. by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ Eduardo Elsztain 08/11/2021 Signature of Reporting Person Date /s/ Consultores Assets Management, S.A. by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ Consultores Venture Capital Limited by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ Cresud, Inc. by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ Real Estate Strategies L.P. by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ IFIS Limited by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ Inversiones Financieras del Sur S.A. by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ Agroinvestment S.A. by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date /s/ Consultores Venture Capital Uruguay, S.A. by Eduardo Elsztain, Chairman of the Board 08/11/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reporting group elected to exercise its right to require the Issuer to redeem all 487,738 shares of the Series E Stock (the "Shares") held by the reporting group at a value per share equal to 130% of the $10 liquidation preference of the Shares, plus accrued and unpaid dividends, on July 29, 2021, pursuant to the terms of the Shares. The Issuer had the right to redeem the Shares with cash or by issuing shares of common stock, and a special committee of independent directors of the board of directors of the Issuer unanimously approved redemption of the Shares with shares of common stock. (Continued at Footnote 2) ( 2 )(Continued from Footnote 1) For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting group is deemed a Director by Deputization by virtue of its representation on the Board of Directors of the Issuer. The number of shares of common stock issued to effect redemption of the Shares equals 1,416,586 shares of common stock based on the weighted market sale price average of the common stock for the applicable thirty trading day period of $4.90 per share.

Remarks: 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, Inmobiliara Financiera y Agropecuaria, Consultores Venture Capital Uruguay, SA, 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., Jiwin S.A. and Real Estate Investment Group VII L.P.

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).

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