STRS

Stratus Properties Inc. Completes Sale of Approximately 47 Acres at Magnolia Place for $14.5 Million

Retrieved on: 
Tuesday, February 27, 2024
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, Place, City, STRS, Sale, Drainage, Commercial property

Stratus Properties Inc. (NASDAQ: STRS) (“Stratus” or the “Company”) today announced that it completed the previously disclosed sale of approximately 47 acres at Magnolia Place for $14.5 million.

Key Points: 
  • Stratus Properties Inc. (NASDAQ: STRS) (“Stratus” or the “Company”) today announced that it completed the previously disclosed sale of approximately 47 acres at Magnolia Place for $14.5 million.
  • The sale generated pre-tax net cash proceeds to Stratus of approximately $5.3 million, after transaction expenses and payment of the remaining $8.8 million project loan.
  • Magnolia Place is a mixed-use project in Magnolia, Texas, shadow-anchored by a 95,000-square-foot H-E-B grocery store on an adjoining 18-acre site owned by H-E-B.
  • Previously at Magnolia Place, Stratus sold two pad sites and 28 acres planned for single-family residences for a total of $6.6 million, which together with the recent sale totals $21.1 million in sales at Magnolia Place.

Stratus Properties Inc. Responds to Unsolicited, Non-Binding Acquisition Proposal

Retrieved on: 
Wednesday, February 21, 2024
Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Building Systems, REIT, STRS, Comment, Disclosure, Stratus

Stratus Properties Inc. (NASDAQ: STRS) (“Stratus” or the “Company”) today confirmed that on January 24, 2024 it received an unsolicited, non-binding proposal from NXSTEP Opportunity Partners (“NXSTEP”) to acquire Stratus for $27.18 per share in cash, subject to adjustments.

Key Points: 
  • Stratus Properties Inc. (NASDAQ: STRS) (“Stratus” or the “Company”) today confirmed that on January 24, 2024 it received an unsolicited, non-binding proposal from NXSTEP Opportunity Partners (“NXSTEP”) to acquire Stratus for $27.18 per share in cash, subject to adjustments.
  • NXSTEP’s proposal was subject to a number of conditions and assumptions, including important assumptions that were incorrect.
  • Stratus’ Board of Directors (“Board”) considered the proposal and determined unanimously that the proposal substantially undervalues the Company and its future prospects and is not in the best interests of the Company and its stockholders.
  • Stratus does not intend to comment on or disclose further developments regarding the proposal unless and until it deems further disclosure is appropriate or required.

Stratus Properties Inc. Secures Financing for and Begins Construction of Holden Hills, a Residential Project in the Barton Creek Community

Retrieved on: 
Tuesday, February 14, 2023
Environment, Residential Building & Real Estate, Sustainability, Alternative Energy, Energy, Construction & Property, Urban Planning, Barton Creek Greenbelt, Texas Hill Country, Architecture, STRS, Holden, Nature, Comerica, Busch Properties, Inc., Health, Research, Sustainability consultant, Knowledge, Consultant, Climate, Partnership, Share repurchase, Multimedia, Building material, LEED, Construction, Security (finance), Central Texas, Stratus

Stratus considers Holden Hills, which is the last remaining single-family project in the Barton Creek community, to be a crown jewel of its 30-plus years of residential development.

Key Points: 
  • Stratus considers Holden Hills, which is the last remaining single-family project in the Barton Creek community, to be a crown jewel of its 30-plus years of residential development.
  • View the full release here: https://www.businesswire.com/news/home/20230214005769/en/
    Stratus has entered into a joint venture with an unrelated third-party investor that contributed 50% of the equity to develop Holden Hills.
  • The partnership has secured all key construction permits for Phase I and construction has commenced.
  • Project Architect Arthur Andersson, said “Our inspiration for the Holden Hills residences comes from land and climate.

Report Finds K-12 Pension Debt Costs Threaten Education Equity in Ohio

Retrieved on: 
Wednesday, February 1, 2023
Equity, Music, Retirement, STRS, Effect, Education, Research, Pension, School, Student, Economic Opportunity Institute, Opportunity, Member, COLA, Higher Education Funding Council for Wales, Tutoring

NEW YORK, Feb. 1, 2023 /PRNewswire/ -- Equable Institute and Opportunity Institute have released new research exploring the effect of teacher pension debt on education resource equity in Ohio.

Key Points: 
  • NEW YORK, Feb. 1, 2023 /PRNewswire/ -- Equable Institute and Opportunity Institute have released new research exploring the effect of teacher pension debt on education resource equity in Ohio.
  • The report, titled Pension Debt Challenges for Equity in Education: The Effect of Teacher Unfunded Liability Costs on K–12 Education Funding in Ohio , found that growing unfunded pension liabilities for teachers and other school employees have silently undermined Ohio' ability to improve education outcomes for students and inequitable impacts on teachers through growing costs and funding policies that disadvantage low-income communities.
  • An increasing share of state and local K–12 education spending has been siphoned off to cover pension costs.
  • This report is one of four reports detailing the impact of unique pension debt challenges facing state education budgets across the U.S.

Strauss Group wraps up Q3 2022 with NIS 2.5 billion in revenue, 7% organic growth[1] and a decline in operating profit

Retrieved on: 
Monday, November 28, 2022
COVID-19, Growth, Lima, Health, NIS, Milk, Partnership, Strauss Group, Transport, Dairy, Coffee, Kitchen, Ministry of Health & Wellness, STRS, Wellness, TASE, Water, Investment, Video game, Pharmaceutical industry, Mobile phone

PETAH TIKVA, Israel, Nov. 28, 2022 /PRNewswire/ -- This morning, Strauss Group (TASE: STRS) published its financial statements for the third quarter of 2022. In the quarter, the Company recorded an increase of 7%1 in revenue, which amounted to NIS 2.5 billion. In the first nine months of 2022, revenue totaled NIS 7 billion, up 7.6%1. The increase is largely due to sales growth in the coffee company in Brazil and Eastern Europe as well as continued growth in the water company but was offset by the drop in sales by the Confectionery Division and Sabra, both of which operated partially in the past several months.

Key Points: 
  • In the quarter, the Company recorded an increase of 7%1 in revenue, which amounted to NIS 2.5 billion.
  • These circumstances also caused a drop in operating profit, which amounted to NIS 111 million, down 63.3% compared to the corresponding period last year.
  • Giora Bardea, Strauss Group CEO:"Strauss Group delivered growth in most of its businesses, other than the confectionery category in Israel and International Dips & Spreads.
  • The fair value[3]of these investments on the above date was NIS 556 million, compared to NIS 326 million on September 30, 2021.

Stratus Properties Inc. Announces $50 Million Return of Capital to Shareholders

Retrieved on: 
Friday, September 2, 2022
Construction & Property, Residential Building & Real Estate, Our Boarding House, Program, Busch Properties, Inc., NASDAQ, Time, Comerica, Sale, Board, Share repurchase, STRS, Financial Accounting Standards Board, U.S. Securities and Exchange Commission, Board of directors, Compliance, Annual report, Compte rendu, Acquisition, Forward-looking statement, Car rental, Security (finance), Stratus

Stratus Properties Inc. (NASDAQ: STRS) (Stratus or the Company) today announced that its Board of Directors (Board) has decided that Stratus will return $50 million to Stratus shareholders in the form of a special cash dividend totaling approximately $40 million and a new $10 million share repurchase program.

Key Points: 
  • Stratus Properties Inc. (NASDAQ: STRS) (Stratus or the Company) today announced that its Board of Directors (Board) has decided that Stratus will return $50 million to Stratus shareholders in the form of a special cash dividend totaling approximately $40 million and a new $10 million share repurchase program.
  • Stratus Board also approved a new share repurchase program, which authorizes repurchases of up to $10 million of Stratus common stock.
  • The share repurchase program authorizes Stratus, in managements discretion, to repurchase shares from time to time, subject to market conditions and other factors.
  • Our Board carefully considered alternatives, listened to our shareholders and determined that the special cash dividend and repurchase program are the best approach at this time for our Company and shareholders.

Strauss Group recorded NIS 4.5 billion in revenues the first half of 2022; 8% organic growth[1] and a decline of 59% in operating profit

Retrieved on: 
Tuesday, August 16, 2022
Organic, Strauss Group, Confectionery, CEO, Food safety, Growth, Leadership, Wellness, Group, Income, Strauss, COVID-19, Company, AFH, Mission statement, STRS, Ministry of Health (Saudi Arabia), Partnership, Ministry, Ownership, Ministry of Health & Wellness, NIS, TASE, Coffee, Management, Renewable energy, Pharmaceutical industry, Financial services, Health

PETAH TIKVA, Israel, Aug. 16, 2022 /PRNewswire/ -- This morning, Strauss Group (TASE: STRS) published its financial statements for the first half and second quarter of 2022. In the half-year, the Company delivered an increase of 8%1 in revenue, which amounted to NIS 4.5 billion. In the second quarter, revenue totaled NIS 2.3 billion, reflecting 4.6%1 growth. Growth is largely due to an increase in sales by the coffee company and was offset by a drop in sales by the Confectionery Division and Sabra, both of which operated on a partial scale in the half-year.

Key Points: 
  • In the half-year, the Company delivered an increase of 8%1 in revenue, which amounted to NIS 4.5 billion.
  • Despite the increase in sales, the Company reported a decline in operating profit and in the operating margin in the half and quarter.
  • All of us at Strauss, and I especially, express our great gratitude to him for his tenure of more than 25 years in the group."
  • Strauss Israel concluded the first six months of the year with an operating loss of NIS 26 million.

Stratus Properties Inc. Announces Construction Financing for The Saint George, a Multi-Family Project in North-Central Austin

Retrieved on: 
Thursday, July 21, 2022
Residential Building & Real Estate, Commercial Building & Real Estate, General Entertainment, Entertainment, Construction & Property, Goal, Acquisition, Sale, University, Comerica, STRS, Busch Properties, Inc., U.S. Securities and Exchange Commission, Forward-looking statement, Partnership, Board, Compte rendu, Apple, Multimedia, Q2 Stadium, NASDAQ, Saint George, Restaurant, Moses Austin, Board of directors, Saint-Georges-du-Bois, Sarthe, Annual report, Security (finance), Stratus

Stratus Properties Inc. (NASDAQ: STRS) (Stratus or the Company) today announced that it has completed construction financing for the development of The Saint George, a 316-unit luxury wrap-style multi-family project to be constructed in north-central Austin on Burnet Road.

Key Points: 
  • Stratus Properties Inc. (NASDAQ: STRS) (Stratus or the Company) today announced that it has completed construction financing for the development of The Saint George, a 316-unit luxury wrap-style multi-family project to be constructed in north-central Austin on Burnet Road.
  • The Saint George will be a high-quality addition to our portfolio, ultimately adding value to our leasing operations.
  • The project is owned by The Saint George Apartments, L.P., a Texas limited partnership and a Stratus subsidiary.
  • The construction financing consists of a four-year construction loan from Comerica Bank to the limited partnership in the amount of $56.8 million, which is secured by the project.

Ryman Hospitality Properties, Inc. Closes Acquisition of Block 21 in Austin, Texas From Stratus Properties Inc. and Provides Second Quarter and Full Year Operating Update

Retrieved on: 
Wednesday, June 1, 2022
Gaylord Hotels, Company, Ryman Hospitality Properties, NBCUniversal, United, Ryman Auditorium, Partnership, Block 21, Failure, Marriott International, REIT, Music, Convention center, GLOBE, Private Securities Litigation Reform Act, Acquisition, NYSE, Risk, NASDAQ, Gray Television, W Austin Hotel and Residences, Heart, Collection, OEG, WSM, STRS, Hotel, Circle

NASHVILLE, Tenn., June 01, 2022 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the Company) has closed its previously announced pending acquisition of Block 21 from Stratus Properties Inc. (NASDAQ: STRS).

Key Points: 
  • NASHVILLE, Tenn., June 01, 2022 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the Company) has closed its previously announced pending acquisition of Block 21 from Stratus Properties Inc. (NASDAQ: STRS).
  • I would also like to thank our Ryman Hospitality Properties team and our new team members at ACL Live for their hard work throughout this transition process.
  • The Company today is also providing a second quarter and full year business update and supplemental information.
  • Ryman Hospitality Properties, Inc.(NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and country music entertainment experiences.

Stratus Properties Inc. Completes Sale of Block 21 to Ryman Hospitality Properties, Inc. for $260 Million

Retrieved on: 
Wednesday, June 1, 2022
Professional Services, Entertainment, TV and Radio, General Entertainment, Residential Building & Real Estate, Finance, Construction & Property, Leadership, Moody, Ryman, Annual report, Forward-looking statement, Comerica, Block 21, Ryman Hospitality Properties, Santal people, Multimedia, City, Busch Properties, Inc., U.S. Securities and Exchange Commission, STRS, Music, Sale, Acquisition, Compliance, NASDAQ, Board, Compte rendu, Strategic planning, Block, Risk management, Stratus

Stratus expects to record a pre-tax gain on the sale of approximately $120 million in the second quarter of 2022 (approximately $94 million after-tax).

Key Points: 
  • Stratus expects to record a pre-tax gain on the sale of approximately $120 million in the second quarter of 2022 (approximately $94 million after-tax).
  • View the full release here: https://www.businesswire.com/news/home/20220531005964/en/
    Block 21 was Stratus wholly owned mixed-use real estate property in downtown Austin, Texas.
  • William H. Armstrong III, Chairman of the Board and Chief Executive Officer of Stratus, said, We are pleased to conclude the sale of Block 21.
  • I am confident that Block 21 will continue to thrive as an Austin icon within the Ryman portfolio.