to and you review Thank conference quarter results. operational XXXX for third our joining our call financial
Our me delivering I’d operating today. is how hard To here quarter our work in excellent Chief another with and proud team’s of off, to say execution like Pickens performance. start Officer, Financial am I of Erin
and The after-tax cash XX flow successful of Saint at generated million of in in have $XXX The The this the XXXX to and time sales Block year, opportune Santal Mary earlier an completed were market and Stratus.
cash our completed to We dividend through commitments share return shareholders also successfully repurchase our to recent and cash program.
development shareholder well to maximize positioned to value. our is promising continue Looking we pipeline, Stratus believe ahead to
third approximately and a the per out million repurchase and paying XXth, program. cash cash to returned million cash special have on in deliver share decision Since our return then, announced dividend by to shareholders, business to program we $XX we open in in quarter, Last implementing Board’s on commitment to our quarter. reflecting development competence stock September $X.XX market the or strategy shareholders significant our $XX
$X.X toward buybacks share. and that XXXX, $XX our purchased November with Xth, have progress make or to we through for figure, per $XX continue We million shares about million XXX,XXX approximately
is streamline After business. Stratus XX, the sale of on Block its continuing focused to
know, residential focusing that mixed-use announced residential-centric Stratus’s remains projects. Board program, pure on successful continue last we As development and you the determined quarter to
Our Austin H-E-B about Texas plan the where markets an We experienced have to knowledgeable team other mixed-use we Greater fast-growing growing projects. several is evaluate operate, and area in markets. we where to in in Houston these opportunities continue including
for bank using debt proved develop near-term and We has plan level credit promoted also funding significant completely facility project paid our off continue to be to us. to successful debt or structure have properties commitments We’ve capital. This third-party no and maturities. revolving
and future As of and time have use intend leveraged, to significant a revolver liquidity the a result, we projects. be support we our over current This is good to this limit to in not our environment.
During earlier substantially the first the quarter, construction H-E-B month. of store on this where completed Magnolia phase of opened grocery we Place, the have development
The Villas’ George properties. We on make continued progress Saint construction also Saint on and The Amarra residential June, to
the at of site $X.X Austin in of for project site $X X.X Market pad at West pad We million. million; and for remaining sold also Killeen XX million a tract Place residential land Magnolia million; last $X.X completed at acre X.X the acres Magnolia land for a for Place undeveloped
of closed end Kingwood the on for multi-family $X.X Subsequent of at to quarter we land tract sale Place in a October XXXX, million.
Market shadow-anchored performing anchored as and stabilized Kingwood H-E-B West our Crossing, and as all Killeen mixed-use are project, well Place projects, Our well. Jones H-E-B
fourth mixed-use project Our Lantana performance. is Place also stabilized showing strong
process market until to is West development we the is This of the and the great time At and now’s prepare and for significant the design advance through the process. sales to of next secure Place, entitlement cycle. decided Kingwood have Killeen continue the and capital projects investment several this part retain our properties a We least stable. Crossing entitlements more Jones to Market time, part intensive
confident residential-focused remain on strategy in our We projects are residential for and focused the long-term. pure and mixed-use
market strong us balance our While had is and advantage will our challenging, been we and opportunities monetize economy when to of the believe allow right. the properties time take sheet
Overall, I’m through and returned and value the pleased have shareholder created approach. with we delivered we consistent proven cash have our
our to strong With what the our I’m will bring team, dedication updates months opportunities now of and to our on coming fruition. provide comes see I’ll pipeline excited hard work of projects. the as
expected development the garden-style Amarra XXXX, expect We on multi-family quarter luxury began by of to Saint on is we to XXXX. Both substantially Burnet Saint Saint be George our XXX-unit project within end remain George, of construction July June, and the project first multi-family complete the the Saint on June mid-XXXX. the by our In on budget and which completed generally the schedule. Road, the XXX-unit
rental high-rise with We downtown of of capital development to Austin, Austin, for Austin. continue views Annie degree XXX campus project B, downtown the the University advance unobstructed Texas our the West in luxury and plans
XXXX conditions. will to XXXX, as a developed be units. obtaining Annie in financing depending tower XXX-foot The XXX with luxury multi-family on or XXX,XXX is of feet and B late goal construction Our square consisting begin early approximately other market
pool architectural offer is historic renovation restaurant, to amenities, and Watson tower and adjacent continue and historic a garden, next property’s while progress AO features. Additionally, will we to House, which of preserving unique and the bar, including all the the expansion the
advanced Hills the We and have projects. plans Holden development Julia also Saint for
Creek inside near community and is final and of outside energy phases, our Creek both wellness, community, the within focus in conservation is Hill Barton home. Barton Holden with the the to to on residences sustainability, new designed residential development the unique multiple XXX developed Greenbelt, large located be
construction have permits market financing obtaining obtained subject to conditions. We one Phase for other and and
later We year. this currently expect construction to infrastructure start
project our anticipate could are late XXXX. construction project component remains and projections Place south at market is sites that multi-family building conditions. The earliest. and homes or secure Lantana currently Our Julia in to capital in Creek structure subject early Austin. on begin Barton XXXX Saint acceptable of The home expect the we to XXX-unit XXXX Julia in selling We start Saint our of the
homes, Villas we XX-year Amarra XXXX to program the on contract of under construction November sale. homes remaining the XX sell were Villas and as nine and three homes made available our continuing of homes were Xth, development Regarding Amarra are for
We continue to XXX-acre the plans in N, Section Barton of the Creek community. for our tract progress our along development Parkway Southwest southern located portion
project to design development result surrounded dense has goal in density. mid-rise space an a increase Our is The by design in mixed-use area. N green expansive significant potential Section a would
sustainable project on living. Holden to similar focused the is addition, In Hills, sensitive environmentally and
project’s for Austin our target exciting the develop and returns meet company. about to projects pipeline this future residents We forward to our markets, I’m and further, residential looking demands excited in potential are strong of for very our shareholders. seeing contribute our in the
on In some commercial addition to like projects. retail to our updates our residential and share projects, I’d
four Texas. ground We multi-family sale project the currently pads signed and closed XX% million pad One remains Place, space on in leases H-E-B retail grocery-anchored have $X.X available of in retail mixed-use the the track of October. of for Kingwood The side for Kingwood, five our at lease.
completed development of construction the quarter, of on Place. phase first Magnolia During Stratus the third substantially
Magnolia, Texas. Our mixed-use project shadow-anchored in H-E-B grocery
support five XX-acre XX,XXX first square square all its on of approximately adjoining the two development. The foot utility an phase grocery road, buildings consists XX,XXX Xnd. development opened and sites entire with and pad on necessary store feet, of drainage H-E-B retail site to infrastructure November
have of space West Market. retail approximately at leases for We signed XX% Killeen the
third the last sold remaining During we for $X quarter XXXX, million. of the pad site
anchored-tenant retail of signed we XXth, for AC for had September Lantana the which and Moviehouse the project mixed-use an developed XX% the and Marriott, leases of major ground space hotel including approximately year. by Eatery, last our partially As in opened lease Place,
review the to third quarter the will for Erin call I financial Erin? of now a turn over results.
