---
schema_version: "secwatch.filing_event.v1"
accession: "0000885508-23-000002"
form_type: "8-K"
ticker: "STRS"
cik: "0000885508"
company_name: "STRATUS PROPERTIES INC"
filed_at: "2023-02-06T23:59:59+00:00"
generated_at: "2026-06-20T00:40:45.830003+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Stratus Properties forms JV for Holden Hills project; receives $30M cash, retains 50% stake

## Summary
- Class A LP contributes land valued at $70M; Class B LP (Bartoni, LLC) contributes $40M cash, $30M distributed to Class A LP.
- Stratus holds 50% equity interest in the Partnership; potential returns may increase above relative equity upon negotiated hurdles.
- Partnership pursuing $26.1M construction loan guaranteed by Stratus for Phase I development.
- Holden Hills Project: 495 acres in Austin, TX, planned for 475 residences across two phases (Phase I: 337 luxury sites + 12 estate lots).
- Comerica borrowing base reduced from $60M to $52.4M after releasing Holden Hills property from collateral pool.

## SEC filing metadata
- accession: 0000885508-23-000002
- form_type: 8-K
- ticker: STRS
- cik: 0000885508
- company_name: STRATUS PROPERTIES INC
- filed_at: 2023-02-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885508/000088550823000002/0000885508-23-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885508/000088550823000002/strs-20230131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885508-23-000002
- JSON: https://secwatch.observer/filing/0000885508-23-000002.json
- Plain text: https://secwatch.observer/filing/0000885508-23-000002.txt

## Key facts
- Material Agreements
  STRATUS PROPERTIES INC amended amended and restated limited partnership agreement with Bartoni, LLC (effective 2023-01-31).
  - Action: amendment
  - Agreement: collaboration
  - Counterparty: Bartoni, LLC
  - Effective: 2023-01-31
  source text: and Bartoni, LLC, an unrelated equity investor, as the sole Class B limited partner (Class B Limited Partner) entered into an amended and restated limited partnership agreement (Partnership Agreement) of Holden Hills, L.P.
  evidence_url: https://www.sec.gov/Archives/edgar/data/885508/000088550823000002/0000885508-23-000002-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.