STRS News & Events

Reports Q1 revenue $3.8M vs. $5M last year. William Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, stated, "During the first quarter, our team remained focused on disciplined execution as we continued to monetize our portfolio and deliver value to stockholders. We completed the sale of Kingwood Place early in the year, generating substantial proceeds, while continuing entitlement, infrastructure and development activities to position our remaining assets for sale. During the quarter, we received a $46.5 million offer for the retail component of Jones Crossing, including undeveloped commercial acreage, and entered into a contract to sell the New Caney land for approximately $12.7 million, subject to closing conditions. In April, we sold an Amarra Villas home for $3.6 million, and in May, we entered into a contract to sell the last Amarra Villas home for $3.6 million. We believe these actions demonstrate continued progress toward maximizing asset value and returning capital to stockholders in a thoughtful manner. Following the Board's determination that the Plan of Liquidation is the best path to optimize and return portfolio value to stockholders, we remain focused on executing the Plan of Liquidation efficiently and prudently."

Reports FY25 revenue $29.9M vs $54.18M last year. William Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, stated, "Following the Board's determination that a plan of liquidation and dissolution is the best path to optimize and return value of our portfolio to stockholders, we are focused on executing the Plan of Liquidation efficiently and prudently. Throughout 2025 and into early 2026, our team delivered meaningful achievements highlighted by the successful sales of West Killeen Market, Lantana Place - Retail and Kingwood Place, which together generated approximately $50.9 million in pre-tax net cash proceeds to Stratus, including after repaying debt totaling $68.0 million. These transactions, combined with distributions from our Holden Hills Phase 2 partnership and loan refinancings on improved terms, significantly strengthened our liquidity and cash position, resulting in $74.3 million of consolidated cash at year end and no amounts drawn on our revolving credit facility. We also advanced several development initiatives, including continued progress at Holden Hills Phases 1 and 2, completed construction and commenced lease-up of The Saint George, and sold three Amarra Villas homes for $10.5 million. We believe Stratus is well-positioned to maximize the value of our remaining portfolio and return cash to our stockholders in a tax-efficient manner."

Stratus Properties announced that its Board of Directors has unanimously approved a plan of complete liquidation and dissolution following conclusion of the strategic review announced on March 11. The Plan provides that the company will be dissolved and will conduct an orderly sale of all or substantially all of the company's assets and distribute the net proceeds to the company's stockholders, subject to payment of or reasonable provision for the company's liabilities and obligations. The Plan is subject to stockholder approval, and the company anticipates that the Plan will be submitted for stockholder approval at a future meeting of stockholders. Under the terms of the Plan, proceeds from asset sales will be distributed by the Company to stockholders in a series of distributions, in such amounts and at such times as determined by the Board in its discretion. The Board intends to make an initial distribution as soon as practicable after the effectiveness of the filing of the Certificate of Dissolution. If the company implements the Plan, the company expects to reduce general and administrative expenses accordingly. The timing and amount of any liquidating distributions are subject to a number of assumptions and will depend on many factors, including the timing and amount of proceeds realized from asset sales, the amount of liabilities and expenses ultimately incurred, tax matters and other contingencies, and the size and duration of any contingency reserve. Stratus estimates that aggregate net proceeds from the asset sales could result in total distributions to stockholders of $29.73-$37.69 per share.

Stratus Properties trading resumes