---
schema_version: "secwatch.filing_event.v1"
accession: "0000885508-23-000009"
form_type: "8-K"
ticker: "STRS"
cik: "0000885508"
company_name: "STRATUS PROPERTIES INC"
filed_at: "2023-03-14T23:59:59+00:00"
generated_at: "2026-06-18T04:07:28.708225+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Stratus Properties amends credit facility; extends maturity to March 27, 2025, raises BSBY floor to 0.5%

## Summary
- Fifth Modification effective March 10, 2023 extends revolving credit facility maturity to March 27, 2025.
- BSBY rate floor increased from 0.0% to 0.5%; interest now one-month BSBY + 4.0% (floor 0.5%).
- Maximum borrowing capacity $53.7M; $42.7M available after $11.0M in letters of credit.

## SEC filing metadata
- accession: 0000885508-23-000009
- form_type: 8-K
- ticker: STRS
- cik: 0000885508
- company_name: STRATUS PROPERTIES INC
- filed_at: 2023-03-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885508/000088550823000009/0000885508-23-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885508/000088550823000009/strs-20230310.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885508-23-000009
- JSON: https://secwatch.observer/filing/0000885508-23-000009.json
- Plain text: https://secwatch.observer/filing/0000885508-23-000009.txt

## Key facts
- Material Agreements
  STRATUS PROPERTIES INC amended Fifth Modification Agreement with Comerica Bank (effective 2023-03-10).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Comerica Bank
  - Effective: 2023-03-10
  source text: Effective March 10, 2023, Stratus Properties Inc. (Stratus) and certain of its wholly-owned subsidiaries named below (the Subsidiary Borrowers, and collectively with Stratus, the Borrowers), as borrowers, and Comerica Bank (Comerica), as lender, entered into the Fifth Modification Agreement (the Fifth Modification), which amends that certain Loan Agreement dated June 29, 2018 by and between the Borrowers and Comerica (the Loan Agreement), and that certain Amended and Restated Revolving Promissory Note dated May 13, 2022 by and between the Borrowers and Comerica (the Note), each as previously amended.
  evidence_url: https://www.sec.gov/Archives/edgar/data/885508/000088550823000009/0000885508-23-000009-index.htm

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