Howard Hughes Corp. Takes Minority Stake in Jean-Georges Restaurants
The Howard Hughes Corporation (HHC) has invested $55 million in chef Jean-Georges Vongerichten’s Jean-Georges Restaurants to acquire a minority stake and to fund growth capital for Jean-Georges’ expanding global business. HHC will have the right to acquire an additional ownership stake.
The existing Jean-Georges Restaurants management team, based on the Upper West Side, will retain control of all day-to-day decision making. Jean-Georges Restaurants currently has more than 40 hospitality offerings and a strong pipeline of new concepts, including the upcoming Tin Building restoration at HHC’s Seaport development in Lower Manhattan.
“Working in close partnership with Jean-Georges at the Seaport in New York City, we experienced first-hand his team’s exceptional ability to execute at the highest levels while growing a global business,” said David O’Reilly, HHC’S CEO. “We see significant runway for Jean-Georges Restaurants to expand its worldwide capital-light restaurant management platform of food & beverage and other hospitality offerings.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!