---
schema_version: "secwatch.filing_event.v1"
accession: "0000885508-24-000074"
form_type: "8-K"
ticker: "STRS"
cik: "0000885508"
company_name: "STRATUS PROPERTIES INC"
filed_at: "2024-11-26T23:59:59+00:00"
generated_at: "2026-05-29T18:26:24.911699+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Stratus closes $33M non-recourse refinancing of Kingwood Place; maturity Dec 2027

## Summary
- Loan of $33M at 1-month SOFR+1.80% (floor 3%), matures Dec 1, 2027; interest-only monthly.
- Proceeds: ~$29M repaid existing Comerica loan, ~$800k transaction costs, ~$3.2M for expenses/distributions.
- Stratus expects ~$2M in payments and distributions from the remaining proceeds.
- Interest rate cap purchased at 6% strike with $33M notional through Dec 1, 2026; subsequent cap required.
- Loan is non-recourse except customary carveout guaranty; no financial covenants.

## SEC filing metadata
- accession: 0000885508-24-000074
- form_type: 8-K
- ticker: STRS
- cik: 0000885508
- company_name: STRATUS PROPERTIES INC
- filed_at: 2024-11-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885508/000088550824000074/0000885508-24-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885508/000088550824000074/strs-20241122.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885508-24-000074
- JSON: https://secwatch.observer/filing/0000885508-24-000074.json
- Plain text: https://secwatch.observer/filing/0000885508-24-000074.txt

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