Stratus Properties Inc. Announces Agreement to Sell Block 21 for $275 Million to Ryman Hospitality Properties, Inc.
Stratus Properties Inc. (STRS)
US:NASDAQ Investor Relations:
stratusproperties.com/investors
Company Research
Source: Business Wire
AUSTIN, Texas--(BUSINESS WIRE)--Stratus Properties Inc. (NASDAQ: STRS) announced today that it has agreed to sell Block 21 to Ryman Hospitality Properties, Inc. for $275 million, which includes the purchaser’s assumption of approximately $142 million of existing mortgage debt. The remainder of the purchase price will be paid in cash.Block 21 is Stratus’ wholly owned mixed-use real estate development and entertainment business in downtown Austin, Texas that contains the 251-room W Austin Hotel and is home to Austin City Limits Live at the Moody Theater, a 2,750-seat entertainment venue that serves as the location for the filming of Austin City Limits, the longest running music series in American television history. Block 21 also includes Class A office space, retail space and the 3TEN ACL Live entertainment venue and business.Stratus is currently considering options for the use of the net proceeds of the sale and for its future real estate development and leasing operations, and ex
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Sec Filings
- 11/14/24 - Form 4
- 11/13/24 - Form 10-Q
- 11/13/24 - Form 8-K
- STRS's page on the SEC website