Stratus Properties Inc. Announces Refinancing of The Santal
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 on September 30, 2019, Santal, L.L.C., a wholly owned subsidiary of Stratus, closed a $75 million loan with ACRC Lender LLC to refinance The Santal, a 448-unit, garden-style, multi-family property located in the upscale Barton Creek community. The new loan has a three-year primary term, with the possibility of two 12-month extensions, bears interest at LIBOR plus 2.85 percent with a 4.80 percent floor, and is non-recourse to Stratus, except for customary carve-outs including environmental liabilities. Net proceeds, after payoff of the existing Santal construction loans with Comerica Bank and payment of transaction costs, were approximately $18 million, inclusive of cash reserves. The refinancing enabled Stratus to reduce both its investment in The Santal and its recourse debt exposure while increasing the rate of return on invested equity.William H. Armstrong III, Chairman of the Board, Pre
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- Stratus Properties Inc. (NASDAQ: STRS) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
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- Stratus Properties Inc. Completes Refinancing of Kingwood Place [Yahoo! Finance]Yahoo! Finance
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- Stratus Properties Inc. Reports Third-Quarter and Nine-Month 2024 Results [Yahoo! Finance]Yahoo! Finance
STRS
Sec Filings
- 11/27/24 - Form 4
- 11/26/24 - Form 8-K
- 11/25/24 - Form 4
- STRS's page on the SEC website