Stratus Properties Inc. Obtains Construction Financing for Kingwood Place
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) announced today that on December 6, 2018, Stratus Kingwood Place, L.P., a subsidiary of Stratus, entered into a construction loan agreement with Comerica Bank, which supersedes and replaces the land acquisition loan agreement and related documents dated August 6, 2018 and provides for a loan in the amount of approximately $32.9 million to finance nearly 70 percent of the costs associated with construction of Kingwood Place, an approximately $48 million H-E-B, L.P. (HEB)-anchored mixed-use development project in Kingwood, Texas. The remaining 30 percent of the project’s costs (totaling approximately $15 million) is being funded by borrower equity, contributed by Stratus and private equity investors. The loan also provides that the maturity date of the loan is December 6, 2022, with the possibility of two twelve-month extensions, subject to satisfy
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News
- Stratus Properties Inc. Reports Year Ended December 31, 2023 ResultsBusiness Wire
- Stratus Properties Inc. (NASDAQ: STRS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Stratus Properties Inc. (NASDAQ: STRS) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Stratus Properties Inc. Completes Sale of Approximately 47 Acres at Magnolia Place for $14.5 Million [Yahoo! Finance]Yahoo! Finance
- Stratus Properties Inc. Completes Sale of Approximately 47 Acres at Magnolia Place for $14.5 MillionBusiness Wire
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- 2/1/24 - TheStreet
STRS
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- 4/8/24 - Form ARS
- 4/8/24 - Form DEF
- 4/3/24 - Form 4
- STRS's page on the SEC website