Press Releases

Third quarter 2011 net income was $9.6 million, excluding the $169.9 million non-cash warrant gain and $(15.2) million of non-recurring charges, compared to net income of $0.3 million, excluding a $(16.5) million reorganization charge, for the third quarter of 2010. Land sales in our Master Planned Community segment were $31.2 million for the third quarter 2011, compared to $24.0 million for third quarter 2010. Net operating income for our income-producing Operating Assets was $13.1 million for the third quarter 2011, compared to $10.8 million for third quarter 2010. Howard Hughes entered into joint ventures to develop its Ala Moana, Bridges at Mint Hill and a portion of the Columbia Town Center properties. Completed a $250.0 million flexible five-year financing for Ward Centers at a 3.45% interest rate.

HHC Partners with Local Developers Kettler and Orchard Development

Nexeo Solutions Signs on as Major Tenant

Burton Tansky and Mary Ann Tighe New Members Replacing David Arthur

Second quarter 2011 net income was $9.1 million, excluding the $56.9 million non-cash gain relating to a decrease in the estimated liability associated with the Company’s warrants, compared to net loss of $(28.0) million for the same period in the prior year. Second quarter 2011 net income attributable to common stockholders was $66.0 million. Master Planned Community land sales, including our share of the sales at The Woodlands joint venture, were $31.1 million for second quarter 2011, compared to $16.5 million for second quarter 2010. Net operating income for our Operating Assets was $10.4 million for second quarter 2011, compared to $11.2 million for second quarter 2010. Acquisition of partner’s interest in The Woodlands master planned community completed on July 1, 2011.