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Stock impact report

Stratus Properties Inc. Completes Refinancing of Jones Crossing

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) (“Stratus” or the “Company”) today announced the closing of a $24.0 million non-recourse loan to refinance the loan for the retail property at Jones Crossing, a wholly-owned H-E-B grocery anchored, mixed-use project in College Station, Texas, the location of Texas A&M University.The new loan matures April 1, 2028, has a lower interest rate than the refinanced loan and resulted in net cash proceeds to Stratus of approximately $1.2 million.William H. Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, stated, “We are pleased to announce the successful refinancing of our Jones Crossing loan. Like our recent Kingwood Place and Lantana Place refinancings, this loan refinancing reflects our strategic approach of taking advantage of lower interest rates and extending our debt maturities. We believe these refinancings will allow us to retain these cash-flowing properties while real estate marke Show less Read more
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