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Stock impact report

Stratus Properties Inc. Announces Review of Strategic Alternatives to Maximize Shareholder Value

Stratus Properties Inc. (STRS) 
US:NASDAQ Investor Relations: stratusproperties.com/investors
Company Research Source: Business Wire
Company Announces Agreement to Sell Kingwood Place AUSTIN, Texas--(BUSINESS WIRE)--Stratus Properties Inc. (NASDAQ: STRS) (“Stratus”) today announced that its Board of Directors (the “Board”) has initiated a process to explore strategic alternatives to maximize shareholder value with the assistance of outside, independent financial and legal advisors. The Board intends to consider a comprehensive range of alternatives, including but not limited to the sale of Stratus, a plan of dissolution and liquidation, further share repurchases and other strategic or financial transactions.Stratus also announced that it has entered into an agreement to sell Kingwood Place for $60.8 million. Kingwood Place is Stratus’ H-E-B-anchored, mixed-use development project in Kingwood, Texas (in the greater Houston area). If the sale is completed, it is expected to generate estimated pre-tax net cash proceeds of approximately $26 million, after selling costs and payment of the project loan. This represent Show less Read more
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