Condor Hospitality Trust buys Kansas Aloft

(The Aloft Leawood-Overland Park was sold by Presidian Hotels and Resorts for $22.5 million. Presidian will continue to manage the property.)

Condor Hospitality Trust acquired a 156-room Aloft property in Leawood, Kan.

The Aloft Leawood-Overland Park was sold by Presidian Hotels and Resorts for $22.5 million. Presidian will continue to manage the property, which is part of the Park Place mixed-use development in Leawood. The Plasencia Group represented Presidian in the sale of the hotel.

"Shortly after opening in 2009, the Aloft quickly established itself as the premier upper-end, select-service hotel, not only in Leawood and Overland Park, but throughout the southwest quadrant of the Kansas City metroplex," Robert Wiemer, an SVP with The Plasencia Group, said in a statement. "We anticipate that the new owner will continue to benefit from the strong performance that the seller enjoyed the past several years."

This action is consistent with Condor's asset-light strategy that it has adopted since the second quarter of 2015, whereby it began selling legacy assets for capital to invest in branded select-service hotels. To date, the company has offloaded 40 of its legacy hotels, generating roughly $111 million.

Amenities at the hotel include the Re:charge Gym, Splash indoor pool, Re:mix lounge, check-in kiosks, Camp Aloft for children of travelers and the Arf pet program. Dining options include the W Xyz Bar and Re:fuel by Aloft, a grab-and-go eatery. The property also offers 635 square feet of meeting space, and includes complimentary Wi-Fi and access to a 50-inch TV.