Debt (Tables)

12 Months Ended

Dec. 31, 2024

Stratus’ debt follows (in thousands):


	December 31,
	2024		2023

Comerica Bank revolving credit facility a	$	—	$	—
Kingwood Place loan, b
average interest rate of 6.37% in 2024 and 7.74% in 2023	32,408		28,160
Jones Crossing loan,
average interest rate of 7.57% in 2024 and 7.27% in 2023	22,428		22,340
The Annie B land loan,
average interest rate of 8.25% in 2024 and 7.96% in 2023	12,568		13,983
Construction loans:
The Saint George construction loan, c
average interest rate of 7.53% in 2024 and 7.68% in 2023	47,741		24,657
The Saint June construction loan,
average interest rate of 7.90% in 2024 and 7.87% in 2023	32,109		27,668
Lantana Place construction loan,
average interest rate of 7.52% in 2024 and 7.47% in 2023	25,509		22,961
Holden Hills Phase 1 construction loan, d
average interest rate of 8.15% in 2024 and 8.38% in 2023	15,265		5,736
West Killeen Market construction loan,
average interest rate of 7.89% in 2024 and 7.75% in 2023	5,194		5,250
Amarra Villas credit facility,
average interest rate of 8.33% in 2024 and 8.11% in 2023	1,631		15,682
Magnolia Place construction loan, e
average interest rate of —% in 2024 and 8.38% in 2023	—		8,731
Total debt e	$	194,853	$	175,168

a.Stratus did not have an outstanding balance during 2024 or 2023. At December 31, 2024, the interest rate for the revolving credit facility was 8.33 percent.

b.In November 2024, the Kingwood Place construction loan was refinanced with a three-year term loan.

c.There was no outstanding balance during first-quarter 2023.

d.There was no outstanding balance during first-quarter and second-quarter 2023.

e.In February 2024, Stratus repaid this loan.

f.Includes net reductions for unamortized debt issuance costs of $1.8 million at December 31, 2024, and $2.2 million at December 31, 2023.