Real Estate Operating Company (REOC) Example
Example of the week
Company: Howard Hughes Holdings Inc. (HHH) is a real estate operating company (REOC) that develops, owns and manages a portfolio of real estate assets, including master-planned communities (MPCs), commercial properties and development projects.
Revenues: The MPC segment develops and sells land to homebuilders and developers. The operating assets segment acquires or develops retail, office and multifamily properties. The strategic developments segment develops residential condominium and commercial property projects.
Performance: In 2024, the MPC segment generated $349M in earnings before taxes (EBT), the operating assets segment produced net operating income (NOI) of $257M, and the development segment had condo sales revenue of $779M.
