Stratus Properties Inc. Announces Review of Strategic Alternatives to Maximize Shareholder Value

Core Viewpoint - Stratus Properties Inc. is exploring strategic alternatives to maximize shareholder value, including potential sale, dissolution, share repurchases, and other financial transactions [1][3]. Group 1: Strategic Alternatives - The Board of Directors has initiated a process to evaluate a comprehensive range of strategic alternatives with the help of independent financial and legal advisors [1][4]. - No specific timetable has been set for the conclusion of this evaluation, and no decisions have been made regarding potential strategic alternatives [3]. Group 2: Asset Sale - Stratus has entered into an agreement to sell Kingwood Place for $60.8 million, which is expected to generate approximately $26 million in pre-tax net cash proceeds after costs [2]. - The sale of Kingwood Place represents a premium to its pre-tax net asset value, and Stratus owns about 60% of this project through a limited partnership [2]. Group 3: Company Overview - Stratus Properties Inc. is primarily engaged in the entitlement, development, management, leasing, and sale of residential and commercial real estate in Texas, particularly in the Austin area [5]. - The company has a development portfolio of approximately 1,500 acres of commercial and residential projects, and generates revenue from property sales, leasing, and management fees [5].