Stratus Properties Inc. (NASDAQ:STRS) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.

As previously reported, on October 4, 2016, Stratus Properties Inc.’s (“Stratus”) wholly owned subsidiary Stratus Lakeway Center, LLC (“Seller”) entered into an agreement of sale and purchase (the “Purchase Agreement”) with TA Realty, LLC, a Massachusetts limited liability company (“Purchaser”), to which Seller agreed to sell The Oaks at Lakeway to Purchaser. As reported, the closing of the transaction was subject to the satisfaction or waiver of a number of significant closing conditions, including among other things a 45-day inspection period during which Purchaser could terminate the Purchase Agreement in its sole discretion.

On November 18, 2016, Purchaser terminated the Purchase Agreement to Purchaser’s right to terminate in its sole discretion during the 45-day inspection period.

For additional information regarding the Purchase Agreement, refer to “Overview—Sale of The Oaks at Lakeway” in Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Stratus’ Quarterly Report on Form 10-Q for the period ended September 30, 2016, which description is incorporated by reference herein.

About Stratus Properties Inc. (NASDAQ:STRS)

Stratus Properties Inc. (Stratus) is a diversified real estate company. The Company is 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. It operates in four segments: Hotel, Entertainment, Real Estate Operations and Commercial Leasing. Its properties include Barton Creek that includes Calera, Amarra Drive, Mirador Estate and Barton Creek Village; Circle C Community; Lantana; The Oaks at Lakeway and Magnolia. The Hotel segment includes the W Austin Hotel, which has over 251 luxury rooms and suites, a full service spa, gym, rooftop pool and over 9,750 square feet of meeting space. The Commercial Leasing segment includes the office and retail space at the W Austin Hotel & Residences project and a retail building at The Oaks at Lakeway.

Stratus Properties Inc. (NASDAQ:STRS) Recent Trading Information

Stratus Properties Inc. (NASDAQ:STRS) closed its last trading session up +0.10 at 30.70 with 13,818 shares trading hands.