Stratus Properties Inc. Completes Sale of Magnolia Place – Retail Realizing $30 Million of Cumulative Sales at Magnolia Place Over 3 Years
Stratus Properties Inc. (NASDAQ: STRS) has completed the sale of its Magnolia Place – Retail property for $8.9 million, generating pre-tax net cash proceeds of approximately $8.6 million. This sale is part of Stratus' mixed-use development project in Magnolia, Texas. The company retains potential development of about 11 acres planned for 275 multi-family units and approximately $12 million of potential future reimbursement from the municipal utility district.
Over the past three years, Stratus has realized cumulative sales of $30.1 million at Magnolia Place, including the sale of pad sites, retail development land, single-family land, and land planned for up to 600 multi-family units. The company acquired the 125-acre site in 2014 for a net price of about $3.3 million, demonstrating significant value creation through development and strategic sales.
Stratus Properties Inc. (NASDAQ: STRS) ha completato la vendita della sua proprietà Magnolia Place – Retail per 8,9 milioni di dollari, generando proventi netti in contante prima delle tasse di circa 8,6 milioni di dollari. Questa vendita fa parte del progetto di sviluppo a uso misto di Stratus a Magnolia, Texas. L'azienda mantiene la potenziale pianificazione dello sviluppo di circa 11 acri previsti per 275 unità multifamiliari e circa 12 milioni di dollari di possibile rimborso futuro dal distretto dei servizi municipali.
Negli ultimi tre anni, Stratus ha realizzato vendite cumulative di 30,1 milioni di dollari a Magnolia Place, inclusa la vendita di terreni per pad, terreni per sviluppo commerciale, terreni residenziali unifamiliari e terreni previsti per un massimo di 600 unità multifamiliari. L'azienda ha acquisito il sito di 125 acri nel 2014 per un prezzo netto di circa 3,3 milioni di dollari, dimostrando una creazione di valore significativa attraverso lo sviluppo e vendite strategiche.
Stratus Properties Inc. (NASDAQ: STRS) ha completado la venta de su propiedad Magnolia Place – Retail por 8,9 millones de dólares, generando ingresos netos en efectivo antes de impuestos de aproximadamente 8,6 millones de dólares. Esta venta forma parte del proyecto de desarrollo de uso mixto de Stratus en Magnolia, Texas. La compañía mantiene el potencial desarrollo de aproximadamente 11 acres planeados para 275 unidades multifamiliares y aproximadamente 12 millones de dólares de reembolso futuro potencial del distrito de servicios municipales.
En los últimos tres años, Stratus ha realizado ventas acumuladas de 30,1 millones de dólares en Magnolia Place, incluyendo la venta de terrenos para pad, terrenos para desarrollo comercial, terrenos unifamiliares y terrenos previstos para hasta 600 unidades multifamiliares. La compañía adquirió el sitio de 125 acres en 2014 por un precio neto de aproximadamente 3,3 millones de dólares, demostrando una creación de valor significativa a través del desarrollo y ventas estratégicas.
Stratus Properties Inc. (NASDAQ: STRS)는 890만 달러에 자산인 Magnolia Place – Retail을 판매 완료했으며, 약 860만 달러의 세전 순 현금 수익을 창출했습니다. 이번 판매는 텍사스주 매그놀리아에 있는 Stratus의 복합 용도 개발 프로젝트의 일환입니다. 이 회사는 약 11에이커의 개발 잠재력을 보유하고 있으며, 275개의 다가구 유닛을 계획하고 있으며, 약 1200만 달러의 미래 환급 가능성을 지자체 유틸리티 구역으로부터 유지하고 있습니다.
지난 3년 동안 Stratus는 Magnolia Place에서 3010만 달러의 누적 판매실적을 기록했으며, 패드 부지, 소매 개발 토지, 단독 주택용 토지 및 최대 600개의 다가구 유닛 계획 부지를 포함합니다. 이 회사는 2014년에 약 330만 달러의 순 가격으로 125에이커의 부지를 인수하며 개발과 전략적 판매를 통해 상당한 가치 창출을 보여주었습니다.
Stratus Properties Inc. (NASDAQ: STRS) a achevé la vente de sa propriété Magnolia Place – Retail pour 8,9 millions de dollars, générant des recettes nettes en espèces avant impôts d'environ 8,6 millions de dollars. Cette vente fait partie du projet de développement à usage mixte de Stratus à Magnolia, au Texas. La société conserve un potentiel de développement d'environ 11 acres destinés à 275 unités multifamiliales et environ 12 millions de dollars de remboursement futur potentiel de la part du district des services municipaux.
Au cours des trois dernières années, Stratus a réalisé des ventes cumulées de 30,1 millions de dollars à Magnolia Place, y compris la vente de terrains pour des pad, des terrains pour des projets commerciaux, des terrains résidentiels unifamiliaux et des terrains prévus pour un maximum de 600 unités multifamiliales. La société a acquis le site de 125 acres en 2014 pour un prix net d'environ 3,3 millions de dollars, démontrant une création de valeur significative grâce au développement et à des ventes stratégiques.
Stratus Properties Inc. (NASDAQ: STRS) hat den Verkauf seiner Immobilie Magnolia Place – Retail für 8,9 Millionen Dollar abgeschlossen, wodurch vor Steuern Nettokassenmittel von etwa 8,6 Millionen Dollar generiert wurden. Dieser Verkauf ist Teil des gemischten Entwicklungsprojekts von Stratus in Magnolia, Texas. Das Unternehmen behält ein potenzielles Entwicklungsareal von etwa 11 Acres, das für 275 Mehrfamilieneinheiten geplant ist, und etwa 12 Millionen Dollar an potenziellen zukünftigen Rückzahlungen vom kommunalen Versorgungsunternehmen.
In den letzten drei Jahren hat Stratus kumulative Verkäufe von 30,1 Millionen Dollar bei Magnolia Place realisiert, einschließlich des Verkaufs von Pad-Grundstücken, Einzelhandelsentwicklungsland, Einfamilienhausgrundstücken und Grundstücken, die für bis zu 600 Mehrfamilieneinheiten geplant sind. Das Unternehmen erwarb das 125 Acres große Gelände im Jahr 2014 für einen Nettopreis von etwa 3,3 Millionen Dollar, was eine signifikante Wertschöpfung durch Entwicklung und strategische Verkäufe demonstriert.
- Sale of Magnolia Place – Retail property for $8.9 million, generating $8.6 million in pre-tax net cash proceeds
- Cumulative sales of $30.1 million at Magnolia Place over 3 years
- Retention of 11 acres for potential development of 275 multi-family units
- Potential future reimbursement of $12 million from municipal utility district
- Significant value creation from initial $3.3 million land acquisition in 2014
- None.
Insights
Stratus Properties' sale of Magnolia Place – Retail for
The company's retention of 11 acres for potential multi-family development and
Stratus' Magnolia Place project exemplifies successful mixed-use development strategy. By entitling 125 acres and securing key anchors like H-E-B and Chase Bank, they've created a high-value ecosystem. The phased sale approach – pad sites, retail, single-family and multi-family land – maximizes returns while managing risk.
Retaining 11 acres for 275 multi-family units is a savvy move, capitalizing on the area's growth potential. The
At its
The Magnolia Place – Retail property was part of Stratus’ H-E-B grocery shadow-anchored, mixed-use development project in
Prior to the sale of the Magnolia Place – Retail property announced today, Stratus sold all pad sites, the remainder of the potential retail development, the single-family land and land planned for up to 600 multi-family units for a total of approximately
About Stratus
Stratus Properties Inc. is engaged primarily in the entitlement, development, management, leasing and sale of multi-family and single-family residential and commercial real estate properties in the
CAUTIONARY STATEMENT
This press release contains forward-looking statements in which Stratus discusses factors it believes may affect its future performance. Forward-looking statements are all statements other than statements of historical fact, such as plans, projections or expectations related to potential future development projects and potential future municipal utility district (MUD) reimbursements for infrastructure costs. The words “anticipate,” “may,” “can,” “plan,” “believe,” “potential,” “estimate,” “expect,” “project,” “target,” “intend,” “likely,” “will,” “should,” “to be” and any similar expressions and/or statements are intended to identify those assertions as forward-looking statements.
Stratus cautions readers that forward-looking statements are not guarantees of future performance, and its actual results may differ materially from those anticipated, expected, projected or assumed in the forward-looking statements. Important factors that can cause Stratus’ actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, Stratus’ ability to implement its business strategy successfully, including its ability to develop, construct and sell or lease properties on terms its Board considers acceptable, increases in operating and construction costs, the availability and terms of financing for development projects and other corporate purposes, Stratus’ ability to enter into and maintain joint ventures, partnerships, or other strategic relationships, including risks associated with such joint ventures, eligibility for and potential receipt and timing of receipt of MUD reimbursements, and other factors described in more detail under the heading “Risk Factors” in Stratus’ Annual Report on Form 10-K for the year ended December 31, 2023, filed with the
Investors are cautioned that many of the assumptions upon which Stratus’ forward-looking statements are based are likely to change after the date the forward-looking statements are made. Further, Stratus may make changes to its business plans that could affect its results. Stratus cautions investors that it undertakes no obligation to update any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, business plans, actual experience or other changes.
A copy of this release is available on Stratus’ website, stratusproperties.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240819160006/en/
Financial and Media Contact:
William H. Armstrong III
(512) 478-5788
Source: Stratus Properties Inc.
FAQ
What was the sale price of Stratus Properties' Magnolia Place – Retail property?
How much has Stratus Properties (STRS) generated in total sales from Magnolia Place?
What potential development does Stratus Properties retain at Magnolia Place after the retail property sale?
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