secwatch.observer — SEC 8-K summary
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Issuer:     STRATUS PROPERTIES INC (STRS)
CIK:        0000885508
Form:       8-K
Filed at:   2024-08-19T23:59:59+00:00
Accession:  0000885508-24-000061
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stratus Properties completes sale of Magnolia Place - Retail for $8.9M; cumulative sales $30.1M
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- Sale of 100% owned Magnolia Place – Retail for $8.9M yields pre-tax net cash proceeds of ~$8.6M.
- Cumulative sales at Magnolia Place over 3 years total $30.1M; includes earlier pad sales and land.
- Retains ~11 acres for 275 multi-family units and ~$12M in potential MUD reimbursement.
- Construction loan for Magnolia Place development was repaid in full in February 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885508/000088550824000061/0000885508-24-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885508/000088550824000061/strs-20240819.htm
  HTML page:      https://secwatch.observer/filing/0000885508-24-000061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer