UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of
1934
Date
of Report (Date of earliest event reported): May 8, 2007
Stratus
Properties Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
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0-19989
|
72-1211572
|
||
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification Number)
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98
San Jacinto Blvd., Suite 220
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|
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Austin,
Texas
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78701
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (512) 478-5788
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
1.01.
Entry
into a Material Definitive Agreement.
On
May 8,
2007, Stratus Properties Inc. and certain of its affiliates (“Stratus”) entered
into an agreement (the “Agreement”) with Canyon-Johnson Urban Fund II, L.P.,
pursuant to which the parties agreed to enter into a joint venture with respect
to the development of Block 21, a $250 million mixed-use development in downtown
Austin, Texas. Under the Agreement, the parties agreed to form a limited
liability company in connection with the project, although the ultimate
formation of the limited liability company will be subject to satisfaction
of
various conditions set forth in the letter agreement. The press release issued
by Stratus pertaining to this project is attached hereto as Exhibit
99.1.
Item
9.01
Financial
Statements and Exhibits
| (d) |
Exhibit.
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The
Exhibit included as part of this Current Report is listed in the attached
Exhibit Index.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Stratus
Properties Inc.
By:
/s/
John E. Baker
----------------------------------------
John
E.
Baker
Senior
Vice President and
Chief
Financial Officer
(authorized
signatory and
Principal
Financial Officer)
Date:
May
10, 2007
Stratus
Properties Inc.
Exhibit
Index
Exhibit
Number
|
Press
Release dated May 8, 2007, titled “Stratus Properties Partners with
Canyon-Johnson Urban Fund on Block 21 Mixed-Use Development in
Downtown
Austin.”
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