Hughes now majority owner of Woodlands, Bridgeland

North Houston area communities

Vilas Bhuchar, Jan 24, 11.

The Howard Hughes Corporation is now the majority owner of the The Woodlands and Bridgeland, both north Houston area master-planned communities, according to the Houston Business Journal.

The Woodlands covers 28,000 acres, while the Cypress-area Bridgeland community spans 11,400 acres, adds the story, which provides additional information on the Dallas-based The Howard Hughes Corporation:

Howard Hughes, a $3-billion company, which owns, manages and develops commercial, residential and mixed-use real estate, was created from assets previously held by General Growth Properties (NYSE: GGP), which filed for Chapter 11 bankruptcy in 2009, Houghton said. It emerged from bankruptcy in November 2010.
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Howard Hughes, founded in Las Vegas, previously operated under the name Summa Corp. The company was acquired by General Growth in 2004.

The new company is publicly traded on the New York Stock Exchange under the ticker HHC. It has about 200 employees. David Weinreb has been named CEO and Grant Herlitz is company president. Howard Hughes also owns the Summerlin community in Las Vegas, and three communities in Columbia, Md.

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