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Killeen Texas Form 14135: What You Should Know
Development Agreement (MDA), according to a letter sent to STRAIN by Straits Properties Inc. President and CEO Jeffrey Stair. “The MDA benefits were recorded as an operating adjustment in the First Quarter, which will be recorded as an improvement and recognized in the Third Quarter due to the effective performance of the MDA on the Company's revenue recognition. With more to come in 2025 based on our strong performance under the Master Development Agreement, we will deliver operating and operating margin improvements and a corresponding cash position, which we believe will lead weeks of strong results in the first half of the year,” said Chief Financial Officer Eric W. Schultz. Straits also announced that the company will enter a new partnership with the DFW Airport Partnership, a non-profit foundation led by the City of Dallas and the U.S. Department of Transportation to develop and manage the new passenger terminal at Reagan International Airport. “We are deeply appreciative of this experience and are pleased to now be able to contribute to the development of our partners' next-generation terminal to help grow the local and national economy and provide transportation services to our local residents,” said Stair. Straits announces investment in North American Real Estate — LTL Straits announced the acquisition of 1.27 acres of property in Dyer, TX, for approximately 6.95 million. Straits acquired the former Cigar steel plant site for a total investment of 12.4 million, which includes 4.5 million in lease and infrastructure improvements, subject to prior closure by a future owner and 2.4 million in additional property improvements to the site that will be presented to the County during the future lease and infrastructure planning. As part of this acquisition, the Company has entered into a lease agreement with Plano-based real estate investor and developer, J.B. Pritchett, LLC, to acquire 4.95 acres of land, a 50 percent interest in the adjacent 1.27-acre property, and a first refusal bid/ offer to purchase on behalf of J.B. Pritchett for an aggregate purchase price of 20,000,000.
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