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The Howard Hughes Corporation (NYSE: HHC) is a prominent player in the U.S. real estate market, specializing in the ownership, management, and development of commercial, residential, and mixed-use properties. With a comprehensive portfolio that spans from New York to Hawaii, the company's assets include master planned communities, operating properties, and a diverse pipeline of development opportunities.
Headquartered in Houston, Texas, Howard Hughes Corporation's master planned communities are designed to offer high-quality living environments and have been recognized for their innovative placemaking and commitment to design excellence. Key properties include the Seaport in New York City, Downtown Columbia® in Maryland, The Woodlands®, Bridgeland®, and The Woodlands Hills® in Texas, Summerlin® in Las Vegas, Ward Village® in Honolulu, and Teravalis™ in Arizona. These assets are strategically positioned to meet market demand and facilitate accelerated development.
The company's operating properties, primarily retail, provide significant opportunities for redevelopment. Notable properties include South Street Seaport in Manhattan, New York; Columbia Town Center in Columbia, Maryland; Landmark Mall in Alexandria, Virginia; The Outlet Collection at Riverwalk in New Orleans, Louisiana; Cottonwood Square in Holladay, Utah; Park West in Peoria, Arizona; and Ward Centers in Honolulu, Hawaii. With a workforce of approximately 1,000 employees, over half of whom are dedicated to master planned communities, Howard Hughes Corporation is committed to sustained growth and community service.
Recent achievements highlight the company's robust financial performance and strategic initiatives. In August 2023, Howard Hughes Corporation announced its second-quarter earnings, showcasing strong results across various segments, including a surge in new home sales and solid office and multi-family asset performance. Additionally, the company completed a holding company reorganization, creating Howard Hughes Holdings Inc. (NYSE: HHH) to enhance growth flexibility and segregate assets and liabilities effectively.
The Howard Hughes Corporation also engages in community-focused projects. In August 2023, the company collaborated with Century Communities and other organizations to build a custom, mortgage-free home for a U.S. Army Sergeant, demonstrating its commitment to social responsibility and community development.
Dedicated to innovative placemaking, Howard Hughes Corporation continues to influence the real estate landscape through strategic development and operational excellence. For more information, visit www.howardhughes.com.
The Howard Hughes Corporation (NYSE: HHC) has appointed David R. O'Reilly as Chief Executive Officer and L. Jay Cross as President, effective immediately. O'Reilly, previously the Interim CEO, will continue as CFO while a successor is found. Both leaders have extensive industry experience, with O'Reilly noted for executing a successful transformation plan and enhancing the company's liquidity. Cross brings a proven track record in large-scale urban development, having previously led the $20 billion Hudson Yards project. Together, they aim to enhance growth in master planned communities and urban centers.
The Howard Hughes Corporation (NYSE: HHC) announced that Interim CEO David O'Reilly will present at the NAREIT 2020 Investor Conference on November 18, 2020, at 11:30 am ET. The conference is free to attend and will be accessible live or on-demand after registration at www.reit.com. Investors can also schedule one-on-one meetings with Mr. O'Reilly by contacting Tracey Wynn. The company is known for its leading real estate portfolio, including various master-planned communities and operating properties across the U.S.
The Howard Hughes Corporation (HHC) reported third-quarter 2020 results, showing significant sales momentum despite COVID-19 impacts. Net income rose to $139.7 million ($2.51 per diluted share), driven by a $267.5 million gain from the deconsolidation of 110 North Wacker. New home sales grew in master-planned communities, with The Woodlands Hills up 185%. Retail collections improved to 66%, while occupancy rates remained over 90%. The company executed a $750 million bond offering and continued its Transformation Plan, enhancing liquidity and reducing corporate overhead.
The Howard Hughes Corporation (HHC) has proposed a $1.4 billion development in Lower Manhattan's Seaport area, converting a parking lot into a mixed-income project with affordable housing, a new museum building, and financial support for the Seaport Museum. The scheme is expected to create nearly 2,500 permanent jobs and 2,000 construction jobs, generating over $1.8 billion in economic impact. Designed by Skidmore, Owings & Merrill, the plan incorporates community feedback and aims to improve the area's housing landscape while preserving its historical significance.
The Howard Hughes Corporation (NYSE: HHC) announced its upcoming third-quarter earnings release set for November 5, 2020, after market close, followed by a conference call on November 6, 2020, at 10:00 a.m. ET. Shareholders can participate via dial-in or a live audio webcast on the company's website. A replay of the call will be available until December 10, 2020. The company, known for its extensive real estate portfolio including master-planned communities, remains committed to innovative development and design excellence.
The Howard Hughes Corporation (HHC) and Riverside Investment & Development have announced the opening of the landmark office tower at 110 North Wacker Drive in Chicago. This 55-story building features over 1.5 million rentable square feet, marking it as the tallest office building in the city. Designed with health and wellness in mind, it incorporates best-in-class infrastructure and public spaces. Major tenants include Bank of America and other leading firms, demonstrating strong pre-leasing momentum and tenant diversification.
The Howard Hughes Corporation (HHC) announced its third-quarter earnings release date as November 9, 2020, after market close. A conference call will follow on November 10, 2020, at 10:00 a.m. ET. Participants can join via phone or listen to a live audio webcast on the company's website. A replay of the call will be available until December 10, 2020. HHC manages a vast portfolio of master-planned communities and real estate projects across the U.S., including renowned locations such as The Woodlands and Summerlin. Further details can be found on Howard Hughes' website.
The Howard Hughes Corporation (NYSE: HHC) announced the appointment of David O'Reilly as interim CEO, following the retirement of Paul Layne on September 17, 2020. Layne, who served as CEO for nine years, has been instrumental in the company's growth, notably during the pandemic. Under his leadership, the company executed a strategic transformation, focusing on core master-planned communities and conducting successful equity and bond offerings. O'Reilly, previously President and CFO, is expected to guide the company while a search for a permanent CEO is conducted.
The Howard Hughes Corporation (NYSE: HHC) announced the closing of a $750 million offering of 5.375% senior notes due in 2028. The offering was conducted through a private placement and the notes are guaranteed by certain subsidiaries. Proceeds will be used for general corporate purposes, including repayment of existing debt. The offering relied on Rule 144A and Regulation S exemptions, meaning the notes are not registered under the Securities Act and cannot be sold in the U.S. without registration.
The Howard Hughes Corporation (HHC) has announced the pricing of $750 million in senior notes due 2028 with a 5.375% annual interest rate. The notes will be issued in a private placement and will not be registered under the Securities Act. The offering is expected to close on August 18, 2020. Proceeds will be used for general corporate purposes, including repaying existing debt. The notes are guaranteed by certain subsidiaries of the company, aligning with HHC's strategy to manage its financial health.
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