Stratus Properties Inc. Completes Refinancing of Kingwood Place [Yahoo! Finance]
Stratus Properties Inc. (STRS)
US:NASDAQ Investor Relations:
stratusproperties.com/investors
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Source: Yahoo! Finance
of a $33.0 million non-recourse loan to refinance the construction loan for Kingwood Place, an H-E-B-anchored retail project in Kingwood, Texas (in the greater Houston area). Stratus owns approximately 60 percent of Kingwood Place through a limited partnership with third-party equity investors. The new loan matures December 1, 2027, has a tighter interest rate spread than the refinanced loan and is expected to result in payments and distributions to Stratus of approximately $2.0 million. William H. Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, stated, "We are pleased to announce that after successfully constructing and signing leases for substantially all of the retail space, including the H-E-B grocery store, at Kingwood Place, we have now refinanced the project, taking advantage of lower interest rates through a non-recourse refinancing. We believe that retaining this cash-flowing property while real estate market conditions improve will benefit St
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News
- Stratus Properties Inc. (NASDAQ: STRS) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Stratus Properties Inc. (NASDAQ: STRS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Stratus Properties Inc. Completes Refinancing of Kingwood PlaceBusiness Wire
- Stratus Properties Inc. Reports Third-Quarter and Nine-Month 2024 Results [Yahoo! Finance]Yahoo! Finance
- Stratus Properties Inc. Reports Third-Quarter and Nine-Month 2024 ResultsBusiness Wire
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