Stratus Properties Inc. Completes Refinancing of Lantana Place - Retail
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 27 2025
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Source: Businesswire
Loan Refinancing Announcement: Stratus Properties Inc. has closed a $29.8 million loan to refinance the construction loan for its retail property, Lantana Place, which is part of a mixed-use development in Austin, Texas. The new loan features a lower interest rate and will mature on February 1, 2029.
Future Outlook and Strategy: CEO William H. Armstrong III expressed confidence in the refinancing as a strategic move to take advantage of lower interest rates while retaining cash-flowing properties, aiming to benefit Stratus and its shareholders as real estate market conditions improve.
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About STRS
Stratus Properties Inc. is a residential and retail-focused real estate company. The Company is engaged primarily in the entitlement, development, management, leasing and sale of multifamily and single-family residential and commercial real estate properties in the Austin, Texas area and other select markets in Texas. It operates through two segments: Real Estate Operations and Leasing Operations. In addition to its developed properties, it has a development portfolio that consists of approximately 1,500 acres of commercial and residential projects under development or undeveloped land held. Its commercial real estate portfolio consists of stabilized retail properties or future retail and mixed-use development projects with no commercial office space. The Leasing Operations segment is comprised of its real estate assets held for investment that are leased or available for lease and includes The Saint June, Kingwood Place, Kingwood Place and Jones Crossing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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