Stratus Properties Inc. is a real estate company involved in the entitlement, development, management, leasing, and sale of multi-family and single-family residential and commercial properties. It focuses on the Austin, Texas area and other select markets in Texas, operating through Real Estate Operations and Leasing Operations segments. Its leasing operations cover space at retail, mixed-use, and multi-family properties. The company was formerly known as Fm Properties Inc and changed its name to Stratus Properties Inc. in May 1998; it was incorporated in 1992 and is based in Austin, Texas.