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An update from Stratus Properties ( (STRS) ) is now available.
On January 22, 2025, Lantana Place, L.L.C., a wholly-owned subsidiary of Stratus Properties Inc., entered into a loan agreement with Broadway National Bank to refinance the construction loan for the Lantana Place retail property in Austin. The new $29.8 million loan, which matures on February 1, 2029, offers a lower interest rate and provides interest-only payments for the first year, resulting in a $3.0 million distribution to Stratus. This refinancing strategy aligns with Stratus’s approach of capitalizing on lower interest rates and extending debt maturities, aiming to benefit from improved real estate market conditions, thus benefiting the company and its shareholders.
More about Stratus Properties
Stratus Properties Inc. is engaged primarily in the entitlement, development, management, leasing, and sale of multi-family and single-family residential and commercial real estate properties in the Austin, Texas area and other select markets in Texas. The company has a development portfolio of approximately 1,600 acres of commercial and residential projects under development or held for future use. Its commercial real estate portfolio includes stabilized retail properties or future retail and mixed-use development projects.
YTD Price Performance: -5.86%
Average Trading Volume: 9,799
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $155.8M
Find detailed analytics on STRS stock on TipRanks’ Stock Analysis page.
