HOUSTON, Jan. 12, 2022 /PRNewswire/ -- The Howard
Hughes Corporation® (NYSE: HHC) today announced that
Carlos Olea has been appointed as
the company's Chief Financial Officer, effective January 12, 2022. Mr. Olea becomes CFO at a time
of escalating growth and strong financial performance across the
company's acclaimed portfolio of large-scale master planned
communities (MPC) and mixed-use properties.
Mr. Olea has been with The Howard Hughes Corporation since 2017
and has served as the company's Chief Accounting Officer since
2019, overseeing the financial accounting strategy for the nation's
largest portfolio of MPCs during a time of outstanding growth.
Prior to joining HHC, Mr. Olea served as Chief Accounting Officer
at Carr Properties, a Washington,
D.C.-based owner-operator and developer. Previously, he was
a Senior Manager with the Advisory Services practice of Ernst and
Young and a Director of Technical Accounting and Financial
Reporting with AvalonBay Communities in Arlington, Virginia.
Mr. Olea has a Master's in Real Estate degree with a
concentration in finance from Georgetown
University, and a B.S. in Accounting and Finance from ITESM,
in Mexico.
"Carlos has been an integral part of HHC's senior team for the
past four years, and we are fortunate to have him as our Chief
Financial Officer," said David
O'Reilly, Chief Executive Officer of The Howard Hughes
Corporation. "What Carlos brings to the table goes far beyond his
vast knowledge of our company and of our industry—his collaborative
spirit and inspirational leadership style are invaluable assets for
the entire HHC team."
Mr. Olea succeeds Correne
Loeffler, who assumed the company's CFO role in 2021 after
HHC's then-CFO, David O'Reilly, was
appointed as Chief Executive Officer.
"We are grateful for the expertise and dedication that Correne
brought to HHC as she helped lead us through a time of transition,"
said O'Reilly. "Correne helped drive the outstanding results that
we have experienced and has positioned HHC for continued growth
ahead. We are fortunate to have had Correne's leadership, and we
wish her continued success going forward."
The Howard Hughes Corporation's development pipeline is the
largest in company history, with last year's announcement of over
2,000,000 square feet of new development across the
portfolio—including in Downtown Columbia®, Maryland; Ward Village® in Honolulu; Summerlin® in Las Vegas; and Bridgeland® in the Greater Houston region—followed by HHC's
recent acquisition of Douglas Ranch,
its new 37,000-acre MPC in Phoenix's West
Valley.
"I am excited for the opportunity to serve as HHC's Chief
Financial Officer and help drive the company's success as we
continue to accelerate growth across our portfolio," said Mr. Olea.
"With HHC's world-class assets and incredibly robust balance sheet,
we are poised to continue to propel the momentum we have been
experiencing as we create long-term value in our MPCs and mixed-use
developments, and deliver outsized, risk-adjusted returns to our
investors."
About The Howard Hughes Corporation®
The Howard
Hughes Corporation owns, manages, and develops commercial,
residential, and mixed-use real estate throughout the U.S. Its
award-winning assets include the country's preeminent portfolio of
master planned communities, as well as operating properties and
development opportunities including: the Seaport in New York City; Downtown Columbia®,
Maryland; The Woodlands®, The
Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®,
Las Vegas; Ward Village® in
Honolulu, Hawaiʻi; and
Douglas Ranch in Phoenix. The Howard Hughes Corporation's
portfolio is strategically positioned to meet and accelerate
development based on market demand, resulting in one of the
strongest real estate platforms in the country. Dedicated to
innovative placemaking, the company is recognized for its ongoing
commitment to design excellence and to the cultural life of its
communities. The Howard Hughes Corporation is traded on the New
York Stock Exchange as HHC. For additional information, visit
www.howardhughes.com.
Safe Harbor Statement
Statements made in this press
release that are not historical facts, including statements
accompanied by words such as "will," "believe," "expect,"
"enables," "realize," "plan," "intend," "assume," "transform" and
other words of similar expression, are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's expectations,
estimates, assumptions, and projections as of the date of this
release and are not guarantees of future performance. Actual
results may differ materially from those expressed or implied in
these statements. Factors that could cause actual results to differ
materially are set forth as risk factors in The Howard Hughes
Corporation's filings with the Securities and Exchange Commission,
including its Quarterly and Annual Reports. The Howard Hughes
Corporation cautions you not to place undue reliance on the
forward-looking statements contained in this release. The Howard
Hughes Corporation does not undertake any obligation to publicly
update or revise any forward-looking statements to reflect future
events, information or circumstances that arise after the date of
this release.
Contacts
The Howard Hughes Corporation
Cristina Carlson, 646-822-6910
Senior Vice President, Head of Corporate Communications
cristina.carlson@howardhughes.com
For HHC Investor Relations
John Saxon, 281-929-7808
Investor Relations Associate
john.saxon@howardhughes.com
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SOURCE The Howard Hughes Corporation