Stratus Properties Inc. (Stratus) is engaged in the acquisition, development, management, operations and sale of commercial, multi-family and residential real estate properties located primarily in the Austin, Texas area. Its principal real estate holdings are in southwest Austin, Texas. The Company also owns undeveloped commercial property in San Antonio, Texas. The Company operates in two segments: Real Estate Operations and Commercial Leasing. The Real Estate Operations segment consits of all Stratus’ developed properties, properties under development and undeveloped properties held for sale in Austin, Texas, which consist of its properties in the Barton Creek community, the Circle C community and Lantana, and certain portions of the W Austin Hotel & Residences project. The Commercial Leasing segment primarily includes the two office buildings at 7500 Rialto Boulevard.