文章核心观点 - 霍华德·休斯公司收购了位于伍德兰兹市中心的Waterway Plaza II,这是一栋142,448平方英尺的甲级办公楼 [1][2] - 该收购价格为1,920万美元,目前出租率为55%,为公司在伍德兰兹市中心的办公资产组合提供了急需的存量 [1][2] - 公司预计未来几年内该物业将实现300万美元的稳定NOI [2] 公司概况 - 霍华德·休斯公司是一家拥有全国领先的大型规划社区组合以及运营物业和开发机会的房地产公司 [3] - 公司在大休斯顿地区、拉斯维加斯、夏威夷和亚利桑那州等地拥有多个著名的大型规划社区项目 [3] - 公司致力于创新型的场所营造,并持续获得设计卓越和社区文化生活方面的认可 [3] 伍德兰兹社区概况 - 伍德兰兹是一个位于休斯顿以北27英里的28,500英亩的获奖大型规划社区 [4] - 该社区是一个充满活力的区域商业中心和文化丰富的社区,连续多年被评为美国最宜居的地方之一 [4] - 该社区拥有35%的开放绿地,在环境保护方面处于领先地位,并获得了多项殊荣 [4]

THE WOODLANDS, Texas, June 18, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today the appointment of Dana Hamilton to the company's Board of Directors. Ms. Hamilton is a veteran C-suite executive with a track record of growing successful real estate operating and investment companies and using data analytics and technology to drive performance-enhancing organizational and industry change. "Dana's senior leadership experience building large businesses in the apartment and single- ...

THE WOODLANDS, Texas, June 13, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) announced today the closing on the refinancing of 9950 Woodloch Forest Drive, the 601,000-square-foot Class A office tower in The Woodlands®. The five-year, non-recourse $130 million loan bears interest at a fixed rate of 7.075% and amortizes on a 30-year schedule. This refinancing addresses HHH’s largest debt maturity in the next two years, representing 24% of the company’s 2025 debt maturities. “9950 Woodloch F ...

THE WOODLANDS, Texas, June 13, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) announced today the closing on the refinancing of 9950 Woodloch Forest Drive, the 601,000-square-foot Class A office tower in The Woodlands®. The five-year, non-recourse $130 million loan bears interest at a fixed rate of 7.075% and amortizes on a 30-year schedule. This refinancing addresses HHH’s largest debt maturity in the next two years, representing 24% of the company’s 2025 debt maturities. “9950 Woodloch F ...

THE WOODLANDS, Texas, May 29, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today that Chief Financial Officer Carlos Olea will participate in a presentation moderated by Alex Goldfarb from Piper Sandler at NAREIT's REITweek 2024 Investor Conference in New York City on Tuesday, June 4, 2024, at 10:15 am ET. HHH's live presentation will be accessible via audio webcast using the link below. Upon completion of the presentation, an on-demand replay will be available for a period of 3 ...

THE WOODLANDS, Texas, May 29, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) announced today that Chief Financial Officer Carlos Olea will participate in a presentation moderated by Alex Goldfarb from Piper Sandler at NAREIT's REITweek 2024 Investor Conference in New York City on Tuesday, June 4, 2024, at 10:15 am ET. HHH's live presentation will be accessible via audio webcast using the link below. Upon completion of the presentation, an on-demand replay will be available for a period of 3 ...

NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) today announced a victorious decision by the New York State Court of Appeals for its planned 250 Water Street project in Lower Manhattan, clearing the way for the Seaport development to proceed. Today's court decision upheld the Appellate Court's ruling in favor of the project, and together with the State's extension of the recent 421-a tax exemption, has cleared all existing impediments to construction and unlocked tremendous ...

NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE:HHH) today announced a victorious decision by the New York State Court of Appeals for its planned 250 Water Street project in Lower Manhattan, clearing the way for the Seaport development to proceed. Today's court decision upheld the Appellate Court's ruling in favor of the project, and together with the State's extension of the recent 421-a tax exemption, has cleared all existing impediments to construction and unlocked tremendous ...

财务数据和关键指标变化 - 公司第一季度MPC EBT为2400万美元,主要来自Bridgeland的31英亩住宅用地销售和13百万美元的建筑商价格参与 [13][14] - 公司平均每英亩住宅用地价格为60万美元,较上年同期下降,主要是由于去年Woodlands和Summerlin的6宗高价定制地块销售 [15] - 公司第一季度总收入为1150万美元,较上年同期下降395,000美元,主要是由于餐厅业务受天气和客流量下降影响,部分被Fulton Market Building租赁收入增加所抵消 [23] - 公司第一季度Seaport业务净亏损1750万美元,主要是由于Tin Building亏损890万美元 [25] 各条业务线数据和关键指标变化 - 公司办公物业NOI同比增长10%至3100万美元,主要是由于Woodlands和Summerlin物业的租赁活动和租金优惠到期 [28] - 公司多户型住宅物业NOI同比增长9%至1400万美元,主要是由于Bridgeland的Starling和Downtown Columbia的Marlow项目租赁率上升以及4%的现有租金增长 [30] - 公司零售物业NOI与上年同期持平,达1500万美元,新租户带来的收入增加被Downtown Summerlin的一家全国性租户破产所抵消 [32] 各个市场数据和关键指标变化 - 公司在亚利桑那州Floreo合资项目首次完成52英亩住宅用地销售,每英亩平均价格为75.8万美元 [17] - 公司各主要MPC社区新房销量同比增长18%,达654套,创3年来最高季度销量 [18][19] - 公司预计未来将出现强劲的新房需求,因为现有房主的抵押贷款利率大多在5%以下,而新房买家可以获得7%左右的优惠利率 [19][20] 公司战略和发展方向及行业竞争 - 公司正在推进Seaport娱乐业务的分拆,预计将于今年夏季完成,分拆后将专注于发展世界级的主规划社区 [21][22][57] - 公司在夏威夷和德克萨斯州的新公寓项目预售情况出色,已预售250多套,未来收益将近5.6亿美元 [12] - 公司计划在Downtown Summerlin开发更多高端公寓项目,看好该市场的发展潜力 [65] - 公司将根据股价表现和发展机会,在股票回购和新项目开发之间进行权衡 [67][72] 管理层对经营环境和未来前景的评论 - 公司对2024年全年表现保持信心,预计MPC EBT、运营资产NOI和公寓销售毛利将保持强劲 [54][55] - 公司认为,在新房需求强劲、现有房源供给严重不足的背景下,预计未来住宅用地销售将保持旺盛 [19][20] - 公司对Seaport娱乐业务分拆后的发展前景保持乐观,认为可以进一步提升这些独特资产的表现 [56] 问答环节重要的提问和回答 问题1 **Anthony Paolone 提问** 询问公司是否有可能提高运营资产NOI指引,因为第一季度表现超出预期 [61] **David O'Reilly 回答** 公司第一季度表现确实超出预期,但不会立即提高全年指引,因为还存在一些不确定因素,需要进一步观察 [62][63] 问题2 **Alexander Goldfarb 提问** 询问公司是否会将更多资金用于股票回购,而不是新项目开发 [71][72] **David O'Reilly 回答** 公司会根据具体情况,在股票回购和新项目开发之间进行权衡,不会采取非此即彼的策略,而是根据项目的风险调整收益等因素来决定 [72][73][74] 问题3 **Alex Barron 提问** 询问公司在亚利桑那州Floreo项目的销售情况和未来预期 [86][87] **David O'Reilly 回答** Floreo项目的住宅用地销售具有一定的不确定性和波动性,公司预计未来一两次会有大规模的用地销售,但不会每个季度都有类似规模的销售 [87][88][89]

The HHH Opportunity 1Q 2024 Forward-Looking Statements Statements made in this presentation that are not historical facts, including statements accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “may,” “plan,” “project,” “realize,” “should,” “transform,” “would,” and other statements of similar expression and other words of similar expression, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, a ...