04:41 PM EST, 12/22/2025 (MT Newswires) -- Stratus Properties ( STRS ) said Monday its board has started a process to explore strategic options to maximize shareholder value with the support of external financial and legal advisors.

The board will assess a range of alternatives like the sale of the company, a plan of dissolution and liquidation, additional share repurchases and other deals, the company said.

Stratus also said it has agreed to sell Kingwood Place, a mixed-use development project in Kingwood, Texas, for $60.8 million.

If the deal is completed, it will generate estimated pre-tax net cash proceeds of about $26 million, the company said, adding the sale is expected to close in Q1 2026.

Stratus shares were halted in recent activity.