HHH News & Events

Reports Q1 revenue $235.92M, consensus $196M. "Howard Hughes is building on the strength of its cash-generative real estate platform as we transform the Company into a diversified holding company focused on compounding intrinsic value per share," said Bill Ackman, Executive Chairman of Howard Hughes. "Our pending acquisition of Vantage is a key step in that evolution, adding a second engine of long-duration earnings alongside our communities. Vantage is a specialty insurance and reinsurance business that we believe will broaden our earnings base, add a complementary source of long-duration capital, and expand our opportunity set as we allocate capital across multiple platforms while preserving the value creation embedded in our real estate business. Everything is still on track to close this transaction during the second quarter and commence this new growth phase for the company."

The Howard Hughes Corporation has commenced an offering through a private placement, subject to market and other conditions, to offer $1B in aggregate principal amount of HHC senior notes consisting of senior notes due 2032 and senior notes due 2034. HHC intends to use the net proceeds of the offering to redeem all of its outstanding 5.375% Senior Notes due 2028, including the payment of premiums, accrued and unpaid interest and expenses related to such redemption and for general corporate purposes. This press release shall not constitute a notice of redemption of the 2028 Notes.