DivestmentJun 26, 2026, 04:37 PM
Stratus Properties Sells Jones Crossing Retail for $46.5M
AI Summary
Stratus Properties Inc. announced the completion of the sale of the retail component of its Jones Crossing development to Brixmor Operating Partnership LP for $46.5 million in cash. This transaction yielded approximately $21.7 million in pre-tax net cash proceeds after selling costs and loan payment. The divestment is a significant step in the company's previously approved Plan of Liquidation, aimed at maximizing stockholder value, while Stratus retains the multi-family portion of the development.
Key Highlights
- Stratus Properties completed the sale of Jones Crossing – Retail for $46.5 million in cash.
- The transaction generated pre-tax net cash proceeds of approximately $21.7 million.
- The buyer was Brixmor Operating Partnership LP.
- The sale included 154,092 sq ft of retail space and 22 undeveloped commercial acres.
- Stratus retains the 21-acre multi-family component of Jones Crossing.
- The sale is part of Stratus' Plan of Liquidation approved by stockholders on June 1, 2026.
- Pro forma balance sheet shows cash and cash equivalents increasing by $21.7 million.
- Pro forma balance sheet shows total assets decreasing by $10.4 million.
Price Impact
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