What Stratus Properties does

Stratus Properties Inc. (NASDAQ: STRS) is a diversified Central Texas real estate company that acquires, entitles, develops, manages, operates, and sells commercial, hotel, entertainment, and multi- and single-family residential real estate primarily in the Austin metropolitan area, with select projects elsewhere in Texas. Founded in 1992 and headquartered at 212 Lavaca St, Suite 300, Austin, the company operates a portfolio spanning master-planned communities (Barton Creek, Circle C Ranch, Lantana), mixed-use developments (Block 21, Lantana Place, Oaks at Lakeway, Crestview Station), grocery-anchored retail (Kingwood Place, Jones Crossing, West Killeen Market, Magnolia Place, Escarpment Village), multifamily communities (The Saint Mary, The Santal, The Saint June, The Saint George), and luxury residential enclaves (Amarra Villas, Holden Hills). Stratus has historically differentiated through sustainable design (USGBC member since 2002, LEED Silver certification on Block 21, Net Zero target on Holden Hills) and has sold stabilized assets at premia to published NAV (Block 21 at $260M to Ryman Hospitality Properties in 2022; The Santal at $152M in 2021; The Saint Mary at $60M in 2021).

Revenue is generated through three streams: one-time property sales (the dominant historical driver), hotel and entertainment operations (formerly through Block 21, now exited), and recurring commercial rental income on retained assets. Distribution is direct-to-buyer via negotiated sales to institutional investors, REITs (notably Brixmor Property Group), and hospitality operators (notably Ryman Hospitality Properties). As of March 2026, the Board concluded a strategic alternatives review and unanimously approved a Plan of Complete Liquidation and Dissolution; stockholders approved the plan on June 1, 2026, with estimated liquidating distributions of $29.73–$37.69 per share. Q1 2026 results of $8.30M revenue, $2.41 EPS, and a 40.06% net margin reflect residual operations and ongoing asset monetization rather than a going-concern operating model.

Name

Stratus Properties

Legal name

Stratus Properties Inc.

Website

https://stratusproperties.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Stratus Properties Inc. (NASDAQ: STRS) is a Central Texas real estate developer and asset liquidator that acquires, develops, and sells commercial, residential, hospitality, and mixed-use properties primarily in the Austin area; the company is currently executing a stockholder-approved Plan of Complete Liquidation and Dissolution to wind down and distribute proceeds to shareholders.

Ownership category

akta.pro rank

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Others

Revenue model

1. Property Sales: Revenue generated from sales of developed commercial, residential, and mixed-use properties. The company has a history of selling assets at premium valuations, including recent sales of Kingwood Place ($60.8M), Lantana Place-Retail ($57.5M), Jones Crossing-Retail ($46.5M), and historic sales including Block 21 ($260M) and The Santal ($152M).
2. Hotel and Entertainment Operations: Revenue from hotel and entertainment operations, historically from Block 21 which included W Austin Hotel and Austin City Limits Live venue.
3. Commercial Property Rental Income: Rental income from commercial properties including retail, office, and multi-family properties retained in the portfolio.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Stratus Properties Inc. is a diversified real estate company engaged primarily in the acquisition, entitlement, development, management, operation and sale of commercial, hotel, entertainment, and multi- and single-family residential real estate properties, primarily located in the Austin, Texas area, but including projects in certain other select markets in Texas. The company generates revenues from sales of developed properties, from hotel and entertainment operations, and from rental income from commercial properties. The company is currently executing a stockholder-approved Plan of Liquidation and dissolution.

Product overview

Stratus Properties is a diversified real estate company engaged in the acquisition, entitlement, development, management, operation, and sale of commercial, hotel, entertainment, and multi- and single-family residential real estate properties primarily in the Austin, Texas area. The company's portfolio consists of multiple distinct property types: master planned communities (Barton Creek, Circle C Ranch, Lantana), mixed-use developments (Block 21, Lantana Place, Oaks at Lakeway), grocery-anchored retail properties (Kingwood Place, Jones Crossing, West Killeen Market, Magnolia Place, Escarpment Village), multifamily developments (The Saint Mary, The Santal, The Saint June, The Saint George), and luxury residential developments (Amarra Villas, Holden Hills). Following a strategic review, the company is currently executing a plan of complete liquidation and dissolution approved by stockholders on June 1, 2026, with proceeds distributed to shareholders estimated at $29.73 to $37.69 per share.

Differentiator

Problem solved

Functional benefit

Products and services

• Barton Creek

Quantifiable outcome

• Block 21 sold for $260 million with ~$119.7 million pre-tax gain on sale in May 2022
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered major and core.

• Brixmor Property GroupmajorStrategic or Co-development Partner · 26 June 2026Brixmor Property Group acquired Jones Crossing retail component for $46.5 million in cash in June 2026. The retail component includes a 154,092 square-foot H-E-B grocery-anchored retail center along with pad sites and undeveloped commercial acreage in College Station, Texas.
• Ryman Hospitality Properties, Inc.majorStrategic or Co-development Partner · 1 June 2022Ryman Hospitality Properties acquired Block 21 for $260 million in May 2022, which included The W Hotel & Residences (251-key hotel and 159 condominiums), two entertainment venues totaling 3,100 seats, 18K SF of retail space, and 38K SF of office space. Block 21 was Stratus' flagship mixed-use development in downtown Austin's 2nd Street District.
• Trammell Crow Central Texas Development, Inc.majorStrategic or Co-development Partner · 1 January 2005Joint venture partnership to acquire and develop Crestview Station - a 74-acre Brownfield remediation and mixed-use transit-oriented development at the intersection of North Lamar and Airport Boulevard in Austin.
• U.S. Green Building Council (USGBC)coreStrategic or Co-development Partner · 1 January 2002Stratus has been a USGBC member for over 17 years, working alongside council members to transform how buildings and communities are designed, built and operated with the goal of creating environmentally and socially responsible properties.
• Center for Maximum Potential Building Systems (CMPBS)coreStrategic or Co-development Partner · 1 January 2002Long-standing partnership since 2002 with CMPBS, an early leader in environmentally sensitive architecture and building practices. Gail Vittori, co-director of CMPBS, helped create the Austin Energy Green Building Program and contributed to development of LEED rating system.

Scale indicators9 records

Recent moves14 records

Expansion highlights3 records

Broad incumbents

• Ryman Hospitality Properties: Publicly traded lodging REIT specializing in large convention and entertainment hospitality assets - and the buyer of Stratus's flagship Block 21 mixed-use development for $260M in May 2022. Comparable for hospitality/entertainment real estate underwriting; broader geographic footprint and balance sheet than Stratus.
• Federal Realty Investment Trust: Publicly traded, large-cap open-air retail REIT with a high-quality grocery-anchored and mixed-use portfolio. Closest institutional benchmark for cap-rate dynamics and pricing on the kind of open-air mixed-use centers Stratus has historically developed and is now selling.
• Tanger Inc. Publicly traded retail REIT with a national footprint of premium outlet and open-air centers. Comparable as a publicly traded retail REIT benchmark for the pricing environment Stratus is monetizing in, though Tanger's outlet-format and asset base differ from Stratus's grocery-anchored mix.

Direct peers

• Phillips Edison & Company: Publicly traded net-lease REIT focused on grocery-anchored shopping centers. Directly comparable to Stratus's H-E-B-anchored retail strategy (Kingwood Place, Jones Crossing, West Killeen Market, Magnolia Place) in tenant profile, center format, and disposition-style asset sales.
• Saul Centers: Publicly traded REIT that owns, operates, and develops a mixed portfolio of grocery-anchored retail, office, and multifamily assets - mirroring Stratus's multi-segment approach to Central Texas real estate. Scaled-down, more regional version of the same diversified operating thesis.
• Kite Realty Group Trust: Publicly traded open-air retail center REIT operating grocery-anchored and lifestyle shopping centers across high-growth U.S. markets. Relevant as a buyer of stabilized retail similar to Stratus's H-E-B-anchored assets and a broader benchmark for grocery-anchored retail multiples.
• Howard Hughes Holdings: Publicly traded developer of large-scale master-planned communities (The Woodlands, Bridgeland, Summerlin, Ward Village) with embedded commercial, multifamily, and retail components. Comparable to Stratus for its mixed-use development-and-disposition model, sustained track record of selling assets above NAV, and long-duration land holdings.
• Brixmor Property Group: Publicly traded grocery-anchored shopping center REIT and the actual buyer of Stratus's Jones Crossing retail in June 2026 for $46.5M. Comparable asset profile and active counterparty in Stratus's ongoing wind-down sales.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stratus Properties