<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Stratus
Properties Inc.'s financial statements at March 31, 2000 and the three months
then ended, and is qualified in its entirety by reference to such statements.
</LEGEND>
<CIK> 0000885508
<NAME> STRATUS PROPERTIES INC.
<MULTIPLIER> 1000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-END>                               MAR-31-2000
<CASH>                                           3,333
<SECURITIES>                                         0
<RECEIVABLES>                                       15
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 5,120
<PP&E>                                          89,343
<DEPRECIATION>                                     223
<TOTAL-ASSETS>                                 111,750
<CURRENT-LIABILITIES>                            1,035
<BONDS>                                         16,828
<PREFERRED-MANDATORY>                           10,000
<PREFERRED>                                          0
<COMMON>                                           143
<OTHER-SE>                                      73,975
<TOTAL-LIABILITY-AND-EQUITY>                   111,750
<SALES>                                          2,060
<TOTAL-REVENUES>                                 2,060
<CGS>                                            1,601
<TOTAL-COSTS>                                    1,601
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 193
<INCOME-PRETAX>                                  7,090
<INCOME-TAX>                                        40
<INCOME-CONTINUING>                              7,278
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     7,278
<EPS-BASIC>                                       0.51
<EPS-DILUTED>                                     0.44