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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) announced the expiration of its tender offer for its 5.375% senior notes due 2025. The offer, which began on January 19, 2021, saw tenders of approximately $512.5 million, or 51.2% of the $1 billion total notes issued, accepted by February 2, 2021. The company plans to redeem the remaining notes on March 15, 2021, at 102.688% of the principal amount, plus accrued interest. The amendments made to the indenture governing the notes reduce restrictive covenants and notice periods for redemption.
The Howard Hughes Corporation (NYSE: HHC) announced plans to accelerate development across its master planned communities, targeting approximately two million square feet. Key projects include the 1700 Pavilion office building and a luxury apartment complex in Downtown Summerlin, a multifamily development in Bridgeland Central, and the Marlow residential building in Downtown Columbia. These developments respond to strong market demand, with construction expected to begin in Q2 2021 and completion anticipated by Q4 2022.
The Howard Hughes Corporation (HHC) has successfully closed an offering of $650 million in 4.125% senior notes due 2029 and $650 million in 4.375% senior notes due 2031. Proceeds will be used to repurchase $1 billion of outstanding 5.375% senior notes due 2025, repay $280 million of bridge loans, and cover fees. As of February 1, 2021, approximately $512.5 million of the old notes had been tendered. The tender offer ends on February 16, 2021, with a redemption expected on March 15, 2021. The offering was conducted under Rule 144A and Regulation S exemptions.
The Howard Hughes Corporation (NYSE: HHC) announced the appointment of Anthony A. Williams to its Board of Directors, effective February 1, 2021. Williams brings significant experience in urban development, having served as the mayor of Washington, D.C., where he led city revitalization efforts. His expertise is expected to enhance the company’s strategic initiatives for large-scale, mixed-use projects aimed at urban transformation. Chairman William Ackman expressed confidence in Williams' contributions, citing his critical perspectives on future urban developments.
The Howard Hughes Corporation (NYSE: HHC) announced its plans to release its fourth-quarter earnings for 2020 on February 25, 2021, following market closure. A conference call will be held on February 26, 2021, at 10:00 a.m. ET. Investors can access the earnings release on the company's website prior to the call. Participants can join via phone or a live audio webcast. For questions, shareholders can submit inquiries through the designated platform. The company is known for its extensive portfolio in real estate across the U.S.
The Howard Hughes Corporation (NYSE: HHC) priced $650 million in senior notes due 2029 and $650 million due 2031, with interest rates of 4.125% and 4.375% respectively. The offering aims to close on February 2, 2021, and the proceeds will fund a tender offer to repurchase $1 billion of existing senior notes due 2025, repay $280 million in bridge loans, and cover related expenses. The notes will be unsecured and sold only to qualified institutional buyers. This transaction is seen as part of the company’s financial restructuring efforts.
The Howard Hughes Corporation (HHC) announced a proposed offering of $1.3 billion in senior notes, including 2029 and 2031 notes. The funds will be used to repurchase $1 billion of 5.375% senior notes due 2025, repay $280 million in bridge loans, and cover related costs. The offering is private, targeting qualified institutional buyers. These notes are unsecured and guaranteed by select subsidiaries.
The Howard Hughes Corporation (NYSE: HHC) has initiated a cash tender offer for all outstanding 5.375% senior notes due 2025, totaling $1 billion. This includes a consent solicitation to amend the indenture governing the notes, aimed at reducing restrictive covenants and changing optional redemption terms. Holders tendering their notes by February 1, 2021, will receive $1,031.25 per $1,000 principal, and after that, $1,001.25. The offer will expire on February 16, 2021. It is contingent upon financing conditions, and the company may redeem untendered notes thereafter.
The Howard Hughes Corporation (NYSE: HHC) has appointed Nathaniel Milner as Vice President of E-Commerce & Logistics, tasked with developing an innovative e-commerce platform for the historical Tin Building at New York's Seaport District. With nearly 20 years of experience in e-commerce and culinary sectors, Milner aims to enhance the customer delivery experience. This initiative aligns with the ongoing revitalization of the Seaport District, with the Tin Building set to open in 2021, offering a unique culinary marketplace featuring renowned chef Jean-Georges Vongerichten.
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