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* ELSZTAIN EDUARDO S (Last) (First) (Middle) 108 LER PISO CAPITAL FEDERAL BUENOS AIRES ARGENTINA (Street) SOUTH AMERICA C1 00000 (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) 01/24/2017
	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
Warrant (option to purchase)	$0.001	01/24/2017		A		150,540		01/24/2017	01/24/2019	Common Stock	150,540	(1)	150,540	D(2)(3)
Warrant (option to purchase)	$1.92	01/24/2017		D			3,750,000	02/01/2012	01/31/2017	Common Stock	3,750,000	(1)	0	D(2)(3)

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) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

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) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

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) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CRESUD INC (Last) (First) (Middle) MORENO 877 (Street) BUENOS AIRES C1 C1091AAQ (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

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) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

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) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* REAL ESTATE STRATEGIES LP (Last) (First) (Middle) 2 CHURCH STREET (Street) HAMILTON D0 HM CX (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* IRSA INVESTMENTS & REPRESENTATIONS INC (Last) (First) (Middle) BOLIVAR 108 (Street) BUENOS AIRES C1 C1066AAD (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Ifis LTD (Last) (First) (Middle) FLORIDA 537, PISO 18? (Street) BUENOS AIRES C1 C1005AAK (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

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) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The reporting person exchanged 3,750,000 warrants and received 150,540 warrants in an issuer exchange offer under Section 3(a)(9) of the Securities Act of 1934, as amended, and also exempt transaction under Rule 16b-7.

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. 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. Please also see Exhibit.

	/s/ Eduardo S. Elsztain	01/26/2017
	/s/ Consultores Assets Management, S.A. by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	/s/ Consultores Venture Capital Limited by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	/s/ Cresud Sociedad Anonima Comercial by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	/s/ Consultores Venture Capital Uruguay, SA by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	/s/ Agroinvestment S.A. by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	/s/ Real Estate Strategies L.P. by Eduarado S. Elsztain, Chairman of the Board	01/26/2017
	/s/ IRSA Inversiones y Representaciones Sociedad Anonima by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	/s/ IFIS Limited by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	/s/ Inversiones Financieras del Sur S.A. by Eduardo S. Elsztain, Chairman of the Board	01/26/2017
	** 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).
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