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      "kind": "callout",
      "text": "HHC is successfully executing on the vast long-term value creation opportunity within its core master planned communities (\"MPCs\")",
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      "text": "MPC land sales continue to benefit from migration; Robust recovery in operating assets; Ward Village's eighth condo tower is 64% pre-sold; Announced a $250 million share buyback program",
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      "text": "Redeployed proceeds from non-core asset sales into an MPC acquisition; Announced $600 million acquisition of Douglas Ranch; Non-core asset sales have generated $376 million in net proceeds",
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      "text": "Source: Company filings. (1) Seller has the option to repurchase an interest for $271mm, which would leave HHC with a net investment of $329mm.",
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      "text": "Howard Hughes Corporation (\"HHC\")",
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