Howard Hughes’ Houston Assets “Fully Operational”

Yesterday I posted video showing the minor flooding in The Woodlands and Bridgeland.

Release:

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HOUSTON–(BUSINESS WIRE)–Aug. 31, 2017– With over four million square feet of office, retail, hospitality, multifamily and self-storage commercial properties in the Houston area, The Howard Hughes Corporation® (NYSE: HHC) reported today that all assets, including The Woodlands®, Bridgeland® and the grounds of the newly announced community of The Woodlands Hills®, are fully operational and open with only minor damage. The company is committed to helping the relief effort and the challenges being faced throughout the Houston area due to Hurricane Harvey.

“Our thoughts are with our teams and the entire Houston community at this difficult time,” said David R. Weinreb, CEO of The Howard Hughes Corporation. “We are proud of the spirit demonstrated by our amazing colleagues, whose experience and leadership allowed them to respond quickly and efficiently in the face of Hurricane Harvey.”

The Howard Hughes Corporation has partnered with United Way to create a disaster relief fund with all employee donations being matched two times by the company and all donations going directly toward the United Way of Houston Hurricane Harvey relief efforts. In addition, HHC and their local properties are working with area shelters to provide donations and volunteers to help those in immediate need. HHC will continue to provide volunteer services for the long-term as the Houston community has a long road to recovery. The company’s three hotels in the Houston area have taken in linemen from the energy companies who are working to restore power to the Greater Houston region, as well as HHC employees, tenants’ employees, and as many Houston community members needing shelter as possible.

“This is the time to take care of people in need as we continue our unified efforts to help the entire Houston community,” stated Paul Layne, Executive Vice President of Master Planned Communities, The Howard Hughes Corporation.

The Howard Hughes Corporation is continuing to monitor the effects of Harvey and will provide additional information and updates in the aftermath of the hurricane.

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Todd Sullivan is a Massachusetts-based value investor and a General Partner in Rand Strategic Partners. He looks for investments he believes are selling for a discount to their intrinsic value given their current situation and future prospects. He holds them until that value is realized or the fundamentals change in a way that no longer support his thesis. His blog features his various ideas and commentary and he updates readers on their progress in a timely fashion. His commentary has been seen in the online versions of the Wall St. Journal, New York Times, CNN Money, Business Week, Crain’s NY, Kiplingers and other publications. He has also appeared on Fox Business News & Fox News and is a RealMoney.com contributor. His commentary on Starbucks during 2008 was recently quoted by its Founder Howard Schultz in his recent book “Onward”. In 2011 he was asked to present an investment idea at Bill Ackman’s “Harbor Investment Conference”.