Stratus Approves Liquidation Plan, Sells Kingwood Place and Lantana Place for $118M
Stratus Properties’ board approved a complete liquidation plan proposing liquidating distributions of $29.73 to $37.69 per share pending shareholder vote. In 2025 the company sold Kingwood Place ($60.8 million) and Lantana Place retail ($57.5 million), netting $43.1 million in cash and recording combined pre-tax gains of about $40.9 million.
1. Board Approves Liquidation and Dissolution
In March 2026 Stratus’ board completed its strategic review and unanimously approved a plan of complete liquidation and dissolution, subject to stockholder approval. The plan estimates liquidating distributions of $29.73 to $37.69 per share to be paid upon completion of the process.
2. Major Asset Sales in 2025 and Early 2026
In January 2026 a subsidiary sold Kingwood Place for $60.8 million, resulting in $16.2 million net cash and a $13.4 million pre-tax gain. In December 2025 Lantana Place retail sold for $57.5 million, generating $26.9 million net cash and a $27.5 million pre-tax gain. Stratus also received a $46.5 million offer for Jones Crossing retail and has contracts to sell New Caney land for $12.7 million and an Amarra Villas home for $3.6 million.
3. Financial Performance for Year Ended December 31, 2025
Net income attributable to common stockholders rose to $12.0 million, or $1.47 per diluted share, from $2.0 million, or $0.24 per diluted share, in 2024. Revenues declined to $29.9 million from $54.2 million due to fewer home and land sales, while EBITDA increased to $16.6 million from $4.1 million.
4. Liquidity, Credit Facility, and Share Repurchase
At year-end Stratus held $74.3 million in cash and cash equivalents and had $17.1 million available under its revolving credit facility with no borrowings. Through March 20, 2026 the company repurchased 235,421 shares for $5.2 million, leaving $19.8 million available under its $25.0 million repurchase program.