Stratus Properties Inc. Completes Sale of Magnolia Place – Retail Realizing $30 Million of Cumulative Sales at Magnolia Place Over 3 Years
Stratus Properties Inc. (STRS)
US:NASDAQ Investor Relations:
stratusproperties.com/investors
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Source: Business Wire
AUSTIN, Texas--(BUSINESS WIRE)--Stratus Properties Inc. (NASDAQ: STRS) (“Stratus”) today announced that it has completed the previously disclosed sale of its 100% owned, unleveraged and fully-leased Magnolia Place – Retail property for $8.9 million, generating pre-tax net cash proceeds of approximately $8.6 million.At its Magnolia, Texas location, following the sale, Stratus retains potential development of approximately 11 acres planned for 275 multi-family units and approximately $12 million of potential future reimbursement from the municipal utility district.The Magnolia Place – Retail property was part of Stratus’ H-E-B grocery shadow-anchored, mixed-use development project in Magnolia, Texas in the greater Houston area. Stratus entitled and secured utilities for 125 acres, which it acquired in 2014 for a net acquisition price of approximately $3.3 million. Development of the Magnolia Place – Retail property, consisting of 18,582 square feet in two retail buildings, commenced
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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
- Stratus Properties Inc. Reports Second-Quarter and Six-Month 2024 ResultsBusiness Wire
- Stratus Properties Inc. (NASDAQ: STRS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
STRS
Sec Filings
- 9/4/24 - Form 4
- 8/19/24 - Form 8-K
- 8/13/24 - Form 10-Q
- STRS's page on the SEC website