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

AUSTIN, Texas--(BUSINESS WIRE)--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. With the completion of this sale and prior sales of portions of the project, Magnolia Place, which is