<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the Stratus
Properties Inc. financial statements at December 31, 1998 and the year then
ended, and is qualified in its entirety by reference to such statements. The
earnings per share (EPS) data shown was prepared in accordance with FASB No. 128
"Earning Per Share." Basic and diluted EPS have been entered under the captions
primary and diluted, respectively.
</LEGEND>
<CIK> 0000885508
<NAME> STRATUS PROPERTIES INC.
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                           4,949
<SECURITIES>                                         0
<RECEIVABLES>                                      670
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 7,274
<PP&E>                                          97,041
<DEPRECIATION>                                     142
<TOTAL-ASSETS>                                 111,984
<CURRENT-LIABILITIES>                           15,277
<BONDS>                                         17,122
<PREFERRED-MANDATORY>                           10,000
<PREFERRED>                                          0
<COMMON>                                           143
<OTHER-SE>                                      63,347
<TOTAL-LIABILITY-AND-EQUITY>                   111,984
<SALES>                                          1,586
<TOTAL-REVENUES>                                 1,586
<CGS>                                            1,070
<TOTAL-COSTS>                                    1,070
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 269
<INCOME-PRETAX>                                  (516)
<INCOME-TAX>                                        14
<INCOME-CONTINUING>                              (479)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (479)
<EPS-PRIMARY>                                   (0.03)
<EPS-DILUTED>                                   (0.03)