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  "documentTitle": "Howard Hughes Corporation (HHC)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "sourceTypeSlug": "activist_investor",
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  "presentationDate": "2017-05-08 00:00:00",
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      "text": "2008 / Early 2009: Pershing Square acquires 25% of GGP for ~$60 million\n2009: GGP files for bankruptcy in April 2009\n2010: GGP acquires remaining interest in Summerlin from the Howard Hughes’ heirs for $230 million\n2010: GGP emerges from bankruptcy\n2010: HHC is formed as a subsidiary of GGP and spun-off to shareholders with a contemporaneous $250M investment from Blackstone, Brookfield Asset Management, Fairholme and Pershing Square\n2011: HHC purchases 47.5% interest in The Woodlands from Morgan Stanley Real Estate (to establish 100% ownership of The Woodlands)\n2012: HHC buys out Brookfield, Fairholme and Blackstone\n2014: Pershing Square sells remaining stake in GGP, while retaining our initial stake in HHC",
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      "kind": "paragraph",
      "text": "GGP creditors receive par plus accrued interest while shareholders have made 100X+ their investment since November 2008",
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      "text": "The Howard Hughes Corporation: A Little History",
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