Brief: Stratus Properties-Obtains Construction Financing For Kingwood Place
12/12/2018 13:36
Dec 12 (Reuters) - Stratus Properties Inc STRS.O :
* STRATUS PROPERTIES INC - OBTAINS CONSTRUCTION FINANCING
FOR
KINGWOOD PLACE
* STRATUS PROPERTIES INC - ON DEC 6, UNIT ENTERED
CONSTRUCTION
LOAN AGREEMENT WITH COMERICA BANK
* STRATUS PROPERTIES - DEAL PROVIDES FOR LOAN OF ABOUT $32.9
MILLION TO FINANCE NEARLY 70 PERCENT COSTS ASSOCIATED WITH
KINGWOOD PLACE CONSTRUCTION
* STRATUS PROPERTIES INC - DEAL PROVIDES FOR A LOAN OF ABOUT
$48
MILLION H-E-B, L.P. (HEB)-ANCHORED MIXED-USE DEVELOPMENT PROJECT
IN KINGWOOD
* STRATUS PROPERTIES INC - 30 PERCENT OF KINGWOOD PLACE
PROJECT'S
COSTS IS BEING FUNDED BY BORROWER EQUITY
* STRATUS PROPERTIES INC - LOAN ALSO PROVIDES THAT MATURITY
DATE
OF LOAN IS DECEMBER 6, 2022
* STRATUS PROPERTIES INC - TWO TWELVE-MONTH EXTENSIONS
POSSIBILITY ON LOAN
Source text for Eikon: ID:nBw1g7DYNa
Further company coverage: STRS.O
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