<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Stratus
Properties Inc. financial statements at June 30,1998 and the six months the
ended, and is qualified in its entirety by reference to such statements. The
earning per share (EPS) data shown was prepared in accordance with FASB No. 128
"Earning Per Share" basic and diluted EPS have been entered in place of primary
and fully diluted EPS.
</LEGEND>
<CIK> 0000885508
<NAME> STRATUS PROPERTIES INC.
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                           1,900
<SECURITIES>                                         0
<RECEIVABLES>                                      766
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 3,691
<PP&E>                                         103,493
<DEPRECIATION>                                      82
<TOTAL-ASSETS>                                 114,036
<CURRENT-LIABILITIES>                            2,649
<BONDS>                                         31,118
<PREFERRED-MANDATORY>                           10,000
<PREFERRED>                                          0
<COMMON>                                           143
<OTHER-SE>                                      64,422
<TOTAL-LIABILITY-AND-EQUITY>                   114,036
<SALES>                                          6,063
<TOTAL-REVENUES>                                 6,063
<CGS>                                            4,653
<TOTAL-COSTS>                                    4,653
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 985
<INCOME-PRETAX>                                (2,043)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (2,043)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (2,043)
<EPS-PRIMARY>                                   (0.14)
<EPS-DILUTED>                                   (0.14)