March 31, 2020
The Howard Hughes Corporation recently closed on two loans totaling more than $490 million. The financings include a $137-million term loan on 9950 Woodloch Forest Dr., part of HHC’s recently rebranded The Woodlands Towers at The Waterway in The Woodlands, TX; and $356.8 million in construction debt for the company’s sixth residential development at the master-planned Ward Village in Honolulu.
“The Woodlands Towers at The Waterway exemplifies our commitment to providing our community and its businesses with unmatched amenities and buildings integrated into exceptional natural surroundings with focus on health, wellness and sustainability,” said Doug Carman, president of the Houston region at HHC. The company will relocate its corporate headquarters there later this year.
U.S. Bank and seven other lenders provided financing on HHC’s Kō’ula development at Ward Village. Total project costs of $485.1 million will be covered by the loan, existing buyer deposits and approximately $28.2 million of equity.
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