Ownership Submission
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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
REAL ESTATE STRATEGIES LP
   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 (Month/Day/Year)
03/16/2016
(Street)

BUENOS AIRES, C1 066AAD		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 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 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  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
REAL ESTATE STRATEGIES LP
BOLIVAR 108
BUENOS AIRES, C1 066AAD		   X   X    
ELSZTAIN EDUARDO S
108 LER PISO CAPITAL FEDERAL
BUENOS AIRES ARGENTINA
SOUTH AMERICA, C1 00000		   X   X    
CONSULTORES ASSETS MANAGEMENT STOCK CORP
BOLIVAR 108, PISO 2
BUENOS AIRES, C1 C1066AAD		   X   X    
CONSULTORES VENTURE CAPITAL LTD
RUTA 8, KM. 17.500
EDIFICIO 3, LOCAL 3
MONTEVIDEO, X3 91600		   X   X    
CRESUD INC
MORENO 877
BUENOS AIRES, C1 C1091AAQ		   X   X    
CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP
RUTA 8, KM. 17.500
EDIFICIO 3, LOCAL 3
MONTEVIDEO, X3 91600		   X   X    
AGROINVESTMENT STOCK CORP
RUTA 8, KM. 17.500
EDIFICIO 3, LOCAL 3
MONTEVIDEO, X3 91600		   X   X    
IRSA INVESTMENTS & REPRESENTATIONS INC
BOLIVAR 108
BUENOS AIRES, C1 C1066AAD		   X   X    
Ifis LTD
FLORIDA 537, PISO 18
BUENOS AIRES, C1 C1005AAK		   X   X    
INVERSIONES FINANCIERAS DEL SUR STOCK CORP
RUTA 8, KM. 17.500
EDIFICIO 3, LOCAL 3
MONTEVIDEO, X3 91600		   X   X    

Signatures

 Eduardo S. Elsztain, By: s/ Eduardo Elsztain, Name: Eduardo S. Elsztain   03/22/2016
**Signature of Reporting Person Date
 Consultores Assets Management S.A., By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 Consultores Venture Capital Limited, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 Consultores Venture Capital Uruguay SA, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 Agroinvestment S.A., By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 Real Estate Strategies LP, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 IRSA Inversiones y Representaciones Sociedad Anonima, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 IFIS Limited, By: /s/ Eduardo Elsztain, Name: Eduardo S. Elsztain, Title: Chairman of the Board   03/22/2016
**Signature of Reporting Person Date
 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

Explanation of Responses:

* 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).
(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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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