Stratus Properties to repay revolver, term loan debt via property sale

By Tali Rackner

Norfolk, Va., Oct. 11 – Stratus Properties Inc. plans to pay debt outstanding under its revolving line of credit and its term loan with Diversified Real Asset Income Fund with the proceeds from its sale of the Oaks at Lakeway to TA Realty, LLC, according to an 8-K filing with the Securities and Exchange Commission.

The paydown would result in Stratus having substantially no debt outstanding except for other project-specific debt, the company said.

Stratus is real estate developer based in Austin, Texas.

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