Stratus Properties Inc. completed the sale of its 100% owned Lantana Place - Retail project for $57.5 million in cash.
The sale generated pre-tax net cash proceeds of approximately $26.9 million after selling costs and repayment of the project loan.
Following the sale, Stratus retains property for The Saint Julia multi-family development project and entitlements for commercial use in the Lantana community.
Sale Price
$57.5 million cash sale of Lantana Place - Retail project.
Net Cash Proceeds
Approximately $26.9 million after selling costs and loan repayment.
Retained Property
Retains property for The Saint Julia project and entitlements for commercial use.
- The sale reflects Stratus' strategy of unlocking value from its portfolio through disciplined development and timely sales.
- The transaction allowed Stratus to fully repay the project loan, enhancing its financial position and demonstrating commitment to shareholder value.
Stratus Properties Inc.'s successful sale of Lantana Place - Retail signifies strategic value realization and financial strengthening, showcasing commitment to shareholder value and prudent asset management.