Howard Hughes Corp. Mulling Potential Corporate Sale, JV or Spinoff

Master-planned community developer Howard Hughes Corp. confirmed that it is examining strategic alternatives to help maximize shareholder value, according to a release. Specifically, the Dallas-headquartered developer retained Centerview Partners to assist in options, which could include a sale of the company, changes in the corporate structure, a joint venture or spin-off of a portion of the company’s assets.

According to HHC Chief Executive Officer David R. Weinreb, while the business is doing well across its three core segments, “our stock continues to languish below its net asset value per share. The Board and management are determined to close the significant gap between our share price and the company’s underlying net asset value.”

No timetable has been released concerning the conclusion of the strategic alternative review.

Pictured: HHC’s The Woodlands, TX

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