STRS News & Events

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

Stratus Properties announced that its board of directors has concluded its strategic alternatives review announced in December 2025.After an examination of strategic alternatives in conjunction with external financial, tax and legal advisors, the board has unanimously determined it is in the best interests of the Company and its stockholders to pursue a plan of liquidation and dissolution. The plan will provide for the sale of all or substantially all of the company's assets and distribution of the net proceeds to the company's stockholders, after which the company will be dissolved. The board believes a plan represents the best way to optimize and maximize the value of Stratus' remaining portfolio and to return cash to stockholders in a tax-efficient way. The plan will be subject to approval by the company's board and stockholders. In the near term, the board will continue to evaluate the plan, to finalize an estimation of liquidating distributions to be distributed over time from the plan, to obtain lender consent for the plan under its loan agreements, and to obtain consent from relevant third parties and partnerships. William Armstrong, chairman of the board and CEO of Stratus, said, "Stratus' portfolio has evolved over the past ten years and now consists of a more streamlined and mature asset base. We have secured valuable permits and entitlements for our earlier-stage development projects, and we have successfully leased or sold the vast majority of our completed properties. Given our history of property sales at premium valuations, in addition to our strong cash position as a result of recent sales, we believe now is the right time to realize the best value of our portfolio and return it to our stockholders in a tax-efficient plan. We recently completed the sales of Kingwood Place, Lantana Place and West Killeen Market at a premium to their gross values as of December 31, 2024, adding significant cash to our balance sheet. We believe pursuing a plan of liquidation and dissolution will allow us to continue to opportunistically pursue sales at the right times and right prices to optimize stockholder value. I am grateful to our talented team that will continue to maintain and build value in our properties through this sales process."