secwatch.observer — SEC 8-K summary
======================================

Issuer:     STRATUS PROPERTIES INC (STRS)
CIK:        0000885508
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0000885508-24-000065
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Stratus Properties subsidiary amends $32.3M construction loan for The Saint June, extends maturity to Oct 2025
--------------------------------------------------------------------------------

- Loan commitment increased by $2M to $32.3M; maturity extended to Oct 2, 2025.
- Interest rate margin reduced from 2.85% to 2.35% (floating SOFR + 2.35%, floor 3.50%).
- Exit fee of 1.0% on prepayments and repayments; monthly P&I ~$40,000.
- Stratus guarantees loan; borrower is 34.13%-owned subsidiary The Saint June, L.P.
- Proceeds used for operating reserves and repayment of partnership operating loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885508/000088550824000065/0000885508-24-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885508/000088550824000065/strs-20241008.htm
  HTML page:      https://secwatch.observer/filing/0000885508-24-000065

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