The Howard Hughes Corporation® (NYSE: HHC) announced today the sale of the 208,000-square-foot building in The Woodlands® that is home to MD Anderson The Woodlands at a price of $115 million. With net proceeds of $64 million, the sale marks a gain of $52 million on a cash basis and is expected to result in a gain of approximately $39 million on a GAAP basis. “The sale of the build-to-suit MD Anderson cancer care facility in The Woodlands creates meaningful value for our shareholders and exemplifies our continued commitment to the sale of our non-core assets and our transformation plan,” said Paul Layne, CEO of The Howard Hughes Corporation.
Read the full article: The Howard Hughes Corporation® Sells Newly-Opened MD Anderson The Woodlands Medical Building //
Source: https://www.prnewswire.com/news-releases/the-howard-hughes-corporation-sells-newly-opened-md-anderson-the-woodlands-medical-building-301025929.html