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Article: Stratus Properties Inc. Reports Third-Quarter and Nine-Month 2009 Results and Updates W Austin Hotel & Residences Development Activities.(Financial report)
- Article from:
- Business Wire
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AUSTIN, Texas -- Stratus Properties Inc. (NASDAQ: STRS):
HIGHLIGHTS
* On October 21, 2009, Stratus' joint venture with Canyon-Johnson Urban Fund II, L.P. closed on a $120 million construction loan with Beal Bank Nevada for the W Austin Hotel & Residences project.
* W Austin Hotel & Residences project in downtown Austin, Texas, continues to be on schedule and within budgeted cost of $300 million.
* At September 30, 2009, Stratus had $24.9 million of cash and cash equivalents and $31.8 million in available borrowing capacity under its revolving credit facility.
* As of September 30, 2009, there are 30 Meridian lots in the ...