Howard Hughes Holdings Inc.
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
HHH$84.60-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule III - Real Estate and Accumulated Depreciation
| FINANCIAL STATEMENT SCHEDULE | Table of ContentsIndex to Financial Statements |
|---|
SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2025
| Initial Cost (b) · Costs Capitalized Subsequent to Acquisition (c) · Gross Amounts at Which Carried at Close of Period (d) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name of Centerthousands | Location | Center Type | Encumbrances (a) | Land | Buildings and Improvements | Land (e) | Buildings and Improvements (e) | Land | Buildings and Improvements | Total | Accumulated Depreciation (f) | Date of Construction | Date Acquired / Completed |
| Bridgeland | |||||||||||||
| Bridgeland | Cypress, TX | MPC | $85,000 | $260,223 | $— | $262,010 | $1,633 | $522,233 | $1,633 | $523,866 | $(899) | 2004 | |
| Bridgeland Predevelopment | Cypress, TX | Development | — | — | 3,004 | — | — | — | 3,004 | 3,004 | — | ||
| Houston Ground Leases - Bridgeland | Cypress, TX | Other | — | 4,281 | — | — | — | 4,281 | — | 4,281 | — | Various | |
| Lakeside Row | Cypress, TX | Multifamily | 35,500 | 812 | 42,875 | — | 563 | 812 | 43,438 | 44,250 | (10,574) | 2018 | 2019 |
| Memorial Hermann Medical Office | Cypress, TX | Development | 3,735 | — | 9,339 | — | — | — | 9,339 | 9,339 | — | 2025 | |
| One Bridgeland Green | Cypress, TX | Office | — | 1,118 | 33,482 | — | — | 1,118 | 33,482 | 34,600 | (316) | 2024 | 2025 |
| Starling at Bridgeland | Cypress, TX | Multifamily | 37,976 | 1,511 | 57,505 | — | 701 | 1,511 | 58,206 | 59,717 | (7,169) | 2021 | 2022 |
| Village Green at Bridgeland Central | Cypress, TX | Retail | 13,793 | 1,428 | 15,323 | — | — | 1,428 | 15,323 | 16,751 | (519) | 2024 | 2024 |
| Wingspan | Cypress, TX | Multifamily | 32,400 | 1,214 | 72,042 | — | 38 | 1,214 | 72,080 | 73,294 | (6,384) | 2022 | 2023 |
| Columbia | |||||||||||||
| Color Burst Park Retail | Columbia, MD | Retail | — | 337 | 6,945 | 10 | 2,107 | 347 | 9,052 | 9,399 | (1,550) | 2019 | 2020 |
| Columbia Ground Leases | Columbia, MD | Other | — | — | 1,271 | — | — | — | 1,271 | 1,271 | (71) | 2024 | |
| Columbia Office Properties | Columbia, MD | Office | — | 1,175 | 14,394 | — | (1,108) | 1,175 | 13,286 | 14,461 | (7,615) | 2004 / 2007 | |
| Columbia Parking Garages | Columbia, MD | Other | — | — | 42,940 | — | (40) | — | 42,900 | 42,900 | (7,939) | Various | Various |
| Columbia Predevelopment | Columbia, MD | Development | — | — | 36,713 | — | — | — | 36,713 | 36,713 | — | ||
| Juniper | Columbia, MD | Multifamily | 116,876 | 3,923 | 112,435 | — | 9,327 | 3,923 | 121,762 | 125,685 | (26,311) | 2018 | 2020 |
| 10285 Lakefront Medical Office | Columbia, MD | Office | 17,983 | — | 48,156 | — | — | — | 48,156 | 48,156 | (2,220) | 2022 | 2024 |
| One Mall North | Columbia, MD | Office | — | 7,822 | 10,818 | — | 3,817 | 7,822 | 14,635 | 22,457 | (12,681) | 2016 | |
| Marlow | Columbia, MD | Multifamily | 75,159 | 4,088 | 130,083 | — | 3,978 | 4,088 | 134,061 | 138,149 | (15,566) | 2021 | 2022 |
| 6100 Merriweather | Columbia, MD | Office | 65,800 | 2,550 | 86,867 | — | 12,519 | 2,550 | 99,386 | 101,936 | (19,935) | 2018 | 2019 |
| One Merriweather | Columbia, MD | Office | 49,800 | 1,433 | 56,125 | — | 1,082 | 1,433 | 57,207 | 58,640 | (18,762) | 2015 | 2017 |
| Two Merriweather | Columbia, MD | Office | 25,600 | 1,019 | 33,016 | — | 5,201 | 1,019 | 38,217 | 39,236 | (9,352) | 2016 | 2017 |
| Merriweather District (g) | Columbia, MD | Development | — | 400 | 156,861 | (400) | (39,356) | — | 117,505 | 117,505 | — | Various | |
| Merriweather Row | Columbia, MD | Office | 58,927 | 24,685 | 94,824 | — | 62,754 | 24,685 | 157,578 | 182,263 | (48,418) | 2012/2014 | |
| Rouse Building | Columbia, MD | Retail | 21,837 | — | 28,865 | — | 1,905 | — | 30,770 | 30,770 | (9,995) | 2013 | 2014 |
| Summerlin | |||||||||||||
| Aristocrat | Las Vegas, NV | Office | 31,718 | 5,004 | 34,588 | — | 152 | 5,004 | 34,740 | 39,744 | (9,425) | 2017 | 2018 |
| Constellation | Las Vegas, NV | Multifamily | 24,200 | 3,069 | 39,759 | — | 2,681 | 3,069 | 42,440 | 45,509 | (12,535) | 2017 | |
| Downtown Summerlin (h)(i) | Las Vegas, NV | Retail/Office | 1,297 | 30,855 | 364,100 | — | 30,537 | 30,855 | 394,637 | 425,492 | (150,337) | 2013 | 2014 / 2015 |
| Hockey Ground Lease (h) | Las Vegas, NV | Other | 121 | 6,705 | 2,198 | — | — | 6,705 | 2,198 | 8,903 | (458) | 2017 | |
| Meridian | Las Vegas, NV | Office | 16,690 | 4,509 | 42,242 | — | — | 4,509 | 42,242 | 46,751 | (2,149) | 2022 | 2024 |
| 1700 Pavilion (h) | Las Vegas, NV | Office | 75,045 | 1,700 | 101,760 | — | 11,020 | 1,700 | 112,780 | 114,480 | (11,902) | 2021 | 2022 |
| Two Summerlin (h) | Las Vegas, NV | Office | 40,849 | 3,037 | 47,104 | — | 1,924 | 3,037 | 49,028 | 52,065 | (13,916) | 2017 | 2018 |
| Summerlin (h) | Las Vegas, NV | MPC | 78,535 | 990,179 | — | 266,875 | 1,298 | 1,257,054 | 1,298 | 1,258,352 | (856) | 2004 | |
| Summerlin Grocery Anchored Center (h) | Las Vegas, NV | Retail | 14,986 | 4,073 | 43,050 | — | — | 4,073 | 43,050 | 47,123 | (1,506) | 2023 | 2024 |
| Summerlin Predevelopment | Las Vegas, NV | Development | — | — | 25,540 | — | — | — | 25,540 | 25,540 | — | ||
| Tanager (h) | Las Vegas, NV | Multifamily | 58,599 | 7,331 | 53,978 | — | 1,002 | 7,331 | 54,980 | 62,311 | (13,743) | 2017 | 2019 |
| Tanager Echo (h) | Las Vegas, NV | Multifamily | 70,032 | 2,302 | 86,013 | — | 96 | 2,302 | 86,109 | 88,411 | (8,825) | 2021 | 2023 |
| FINANCIAL STATEMENT SCHEDULE | Table of ContentsIndex to Financial Statements |
|---|
| Initial Cost (b) · Costs Capitalized Subsequent to Acquisition (c) · Gross Amounts at Which Carried at Close of Period (d) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name of Centerthousands | Location | Center Type | Encumbrances (a) | Land | Buildings and Improvements | Land (e) | Buildings and Improvements (e) | Land | Buildings and Improvements | Total | Accumulated Depreciation (f) | Date of Construction | Date Acquired / Completed |
| Teravalis | |||||||||||||
| Teravalis | Phoenix, AZ | MPC | — | 544,546 | 312 | 2,663 | 20 | 547,209 | 332 | 547,541 | (144) | 2021 | |
| The Woodlands | |||||||||||||
| Creekside Park | The Woodlands, TX | Multifamily | 36,179 | 729 | 40,116 | — | 713 | 729 | 40,829 | 41,558 | (11,202) | 2017 | 2018 |
| Creekside Park The Grove | The Woodlands, TX | Multifamily | 57,000 | 1,876 | 52,382 | — | 352 | 1,876 | 52,734 | 54,610 | (9,747) | 2019 | 2021 |
| Creekside Park West | The Woodlands, TX | Retail | 15,366 | 1,228 | 17,922 | (121) | 1,094 | 1,107 | 19,016 | 20,123 | (3,862) | 2018 | 2019 |
| Grogan's Mill Retail | The Woodlands, TX | Retail | — | 3,711 | 5,928 | — | — | 3,711 | 5,928 | 9,639 | (384) | 2024 | 2025 |
| Houston Ground Leases - The Woodlands | The Woodlands, TX | Other | — | 13,324 | 2,582 | — | — | 13,324 | 2,582 | 15,906 | (644) | Various | |
| One Hughes Landing | The Woodlands, TX | Office | 44,063 | 1,678 | 34,761 | — | 507 | 1,678 | 35,268 | 36,946 | (12,784) | 2012 | 2013 |
| Two Hughes Landing | The Woodlands, TX | Office | 43,554 | 1,269 | 34,950 | — | (2,416) | 1,269 | 32,534 | 33,803 | (12,483) | 2013 | 2014 |
| Three Hughes Landing | The Woodlands, TX | Office | 70,000 | 2,626 | 46,372 | — | 32,687 | 2,626 | 79,059 | 81,685 | (27,104) | 2014 | 2016 |
| 1725 Hughes Landing Boulevard | The Woodlands, TX | Office | 67,050 | 1,351 | 36,764 | — | 26,207 | 1,351 | 62,971 | 64,322 | (16,184) | 2013 | 2015 |
| 1735 Hughes Landing Boulevard | The Woodlands, TX | Office | 58,793 | 3,709 | 97,651 | — | (264) | 3,709 | 97,387 | 101,096 | (43,156) | 2013 | 2015 |
| Hughes Landing Daycare | The Woodlands, TX | Other | — | 138 | — | — | — | 138 | — | 138 | — | 2018 | 2019 |
| Hughes Landing Retail | The Woodlands, TX | Retail | 30,594 | 5,184 | 32,562 | — | 136 | 5,184 | 32,698 | 37,882 | (11,848) | 2013 | 2015 |
| 1701 Lake Robbins | The Woodlands, TX | Retail | — | 1,663 | 3,725 | — | 856 | 1,663 | 4,581 | 6,244 | (1,515) | 2014 | |
| 2201 Lake Woodlands Drive | The Woodlands, TX | Office | — | 3,755 | — | — | 1,220 | 3,755 | 1,220 | 4,975 | (1,178) | 2011 | |
| Lakefront North | The Woodlands, TX | Office | 50,000 | 10,260 | 39,357 | — | 17,657 | 10,260 | 57,014 | 67,274 | (16,348) | 2018 | |
| One Lakes Edge | The Woodlands, TX | Multifamily | 63,884 | 1,057 | 81,768 | — | 1,227 | 1,057 | 82,995 | 84,052 | (29,256) | 2013 | 2015 |
| Two Lakes Edge | The Woodlands, TX | Multifamily | 105,000 | 1,870 | 96,349 | — | 1,375 | 1,870 | 97,724 | 99,594 | (22,241) | 2018 | 2020 |
| Millennium Six Pines | The Woodlands, TX | Multifamily | 40,569 | 4,000 | 54,624 | 7,225 | 1,047 | 11,225 | 55,671 | 66,896 | (19,471) | 2016 | |
| Millennium Waterway | The Woodlands, TX | Multifamily | 51,000 | 15,917 | 56,002 | — | 1,789 | 15,917 | 57,791 | 73,708 | (28,700) | 2012 | |
| 8770 New Trails | The Woodlands, TX | Office | 33,894 | 2,204 | 35,033 | — | 80 | 2,204 | 35,113 | 37,317 | (9,614) | 2019 | 2020 |
| 9303 New Trails | The Woodlands, TX | Office | 7,025 | 1,929 | 11,915 | — | 2,321 | 1,929 | 14,236 | 16,165 | (5,391) | 2011 | |
| 1 Riva Row | The Woodlands, TX | Multifamily | 89,153 | 3,226 | 140,726 | — | — | 3,226 | 140,726 | 143,952 | (309) | 2023 | 2025 |
| 3831 Technology Forest Drive | The Woodlands, TX | Office | 16,000 | 514 | 14,194 | — | 3,770 | 514 | 17,964 | 18,478 | (8,411) | 2014 | 2014 |
| The Lane at Waterway | The Woodlands, TX | Multifamily | 37,500 | 2,029 | 40,033 | — | 475 | 2,029 | 40,508 | 42,537 | (8,571) | 2019 | 2020 |
| The Ritz-Carlton Residences | The Woodlands, TX | Development | 110,127 | — | 156,083 | — | — | — | 156,083 | 156,083 | (2,729) | 2024 | |
| The Woodlands | The Woodlands, TX | MPC | — | 269,411 | 9,814 | (82,097) | (9,744) | 187,314 | 70 | 187,384 | (70) | 2011 | |
| The Woodlands Parking Garages | The Woodlands, TX | Other | — | 6,885 | 3,600 | 2,497 | 15,140 | 9,382 | 18,740 | 28,122 | (4,840) | Various | |
| The Woodlands Predevelopment | The Woodlands, TX | Development | — | — | 50,481 | — | — | — | 50,481 | 50,481 | (2,153) | ||
| The Woodlands Towers at the Waterway (j) | The Woodlands, TX | Office | 378,340 | 11,044 | 437,561 | — | 51,340 | 11,044 | 488,901 | 499,945 | (99,312) | 2019 | |
| The Woodlands Warehouse | The Woodlands, TX | Other | 13,700 | 4,480 | 4,389 | — | 120 | 4,480 | 4,509 | 8,989 | (1,085) | 2019 | |
| 3 Waterway Square | The Woodlands, TX | Office | 38,217 | 748 | 42,214 | — | 5,899 | 748 | 48,113 | 48,861 | (19,134) | 2012 | 2013 |
| 4 Waterway Square | The Woodlands, TX | Office | 20,574 | 1,430 | 51,553 | — | 11,690 | 1,430 | 63,243 | 64,673 | (25,718) | 2011 | |
| 6 Waterway (k) | The Woodlands, TX | Office | 9,663 | 841 | 10,279 | — | 1,394 | 841 | 11,673 | 12,514 | (1,473) | 2024 | |
| 7 Waterway | The Woodlands, TX | Development | — | — | 16,377 | — | — | — | 16,377 | 16,377 | — | 2025 | |
| 20/25 Waterway Avenue | The Woodlands, TX | Retail | 14,339 | 2,346 | 8,871 | — | 756 | 2,346 | 9,627 | 11,973 | (3,335) | 2011 | |
| Waterway Square Retail | The Woodlands, TX | Retail | — | 1,341 | 4,255 | — | 1,314 | 1,341 | 5,569 | 6,910 | (2,209) | 2011 | |
| 1400 Woodloch Forest | The Woodlands, TX | Office | — | 1,570 | 13,023 | — | 6,098 | 1,570 | 19,121 | 20,691 | (9,008) | 2011 | |
| The Woodlands Hills | |||||||||||||
| The Woodlands Hills | Conroe, TX | MPC | — | 99,284 | — | 21,983 | 12 | 121,267 | 12 | 121,279 | (8) | 2014 | |
| FINANCIAL STATEMENT SCHEDULE | Table of ContentsIndex to Financial Statements |
|---|
| Initial Cost (b) · Costs Capitalized Subsequent to Acquisition (c) · Gross Amounts at Which Carried at Close of Period (d) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name of Centerthousands · Location · Center Type · Encumbrances (a) · Land · Buildings and Improvements · Land (e) · Buildings and Improvements (e) · Land · Buildings and Improvements · Total · Accumulated Depreciation (f) · Date of Construction · Date Acquired / Completed | ||||||||||||||||
| Ward Village | ||||||||||||||||
| ‘A‘ali‘i | Honolulu, HI | Condominium | — | — | 714 | — | 161 | — | 875 | 875 | (91) | 2018 | 2021 | |||
| Ae`o | Honolulu, HI | Condominium | — | — | 1,162 | — | — | — | 1,162 | 1,162 | (204) | 2016 | 2018 | |||
| Anaha | Honolulu, HI | Condominium | — | — | 1,097 | — | — | — | 1,097 | 1,097 | (222) | 2014 | 2017 | |||
| Kalae | Honolulu, HI | Development | 74,074 | — | 216,451 | — | — | — | 216,451 | 216,451 | — | 2024 | ||||
| Ke Kilohana | Honolulu, HI | Condominium | — | — | 656 | — | — | — | 656 | 656 | (109) | 2016 | 2019 | |||
| Kewalo Basin Harbor | Honolulu, HI | Other | 10,489 | — | 24,116 | — | (773) | — | 23,343 | 23,343 | (8,292) | 2017 | 2019 | |||
| Kō‘ula | Honolulu, HI | Condominium | — | — | 1,184 | — | 74 | — | 1,258 | 1,258 | (107) | 2019 | 2022 | |||
| The Park Ward Village | Honolulu, HI | Development | 269,930 | — | 528,262 | — | — | — | 528,262 | 528,262 | — | 2022 | ||||
| Ulana Ward Village | Honolulu, HI | Condominium | — | — | 15,315 | — | — | — | 15,315 | 15,315 | (2) | 2023 | 2025 | |||
| Victoria Place | Honolulu, HI | Condominium | — | — | 1,396 | — | — | — | 1,396 | 1,396 | (359) | 2021 | 2024 | |||
| Waiea | Honolulu, HI | Condominium | — | — | 1,206 | — | 414 | — | 1,620 | 1,620 | (336) | 2014 | 2016 | |||
| Ward Predevelopment | Honolulu, HI | Development | 24,029 | — | 260,109 | — | — | — | 260,109 | 260,109 | (6,476) | |||||
| Ward Village Parking Garages | Honolulu, HI | Other | — | 4,448 | — | 257 | 140,353 | 4,705 | 140,353 | 145,058 | (42,705) | 2011 / 2016 | 2013 / 2018 | |||
| Ward Village Retail | Honolulu, HI | Retail | 161,650 | 159,559 | 89,321 | (108,164) | 204,651 | 51,395 | 293,972 | 345,367 | (114,673) | Various | Various | |||
| Total excluding Corporate and Deferred financing costs | 3,094,214 | 2,569,963 | 4,859,732 | 372,738 | 633,583 | 2,942,701 | 5,493,315 | 8,436,016 | (1,077,125) | |||||||
| Corporate | Various | 2,050,000 | 885 | 1,027 | (885) | 12,136 | — | 13,163 | 13,163 | (4,999) | ||||||
| Deferred financing costs | N/A | (34,386) | ||||||||||||||
| Total | $5,109,828 | $2,570,848 | $4,860,759 | $371,853 | $645,719 | $2,942,701 | $5,506,478 | $8,449,179 | $(1,082,124) | |||||||
(a)Refer to Note 9 -Mortgages, Notes, and Loans Payable, Net for additional information.
(b)The initial cost for developed projects includes costs incurred through the end of the first complete calendar year after the asset is placed in service; for projects undergoing development or redevelopment, it includes all costs incurred up to the end of the reporting period; for acquired properties not in need of redevelopment, it represents the acquisition cost.
(c)For retail and other properties, costs capitalized subsequent to acquisitions is net of cost of disposals or other property write‑downs. For MPCs, costs capitalized subsequent to acquisitions are net of the cost of land sales.
(d)The aggregate cost of land, buildings, and improvements for federal income tax purposes is approximately $6.2 billion.
(e)Reductions in Land reflect transfers to Buildings and Improvements for projects which the Company is internally developing.
(f)Depreciation is based upon the useful lives in Note 1 -Presentation of Financial Statements and Significant Accounting Policies.
(g)Includes amounts from the Lakefront District development that is now considered a part of Merriweather District following rebranding efforts for the area.
(h)Encumbrances balance either represents or is inclusive of SIDs.
(i)Downtown Summerlin includes the One Summerlin office property, which was placed in service in 2015.
(j)The Woodlands Towers at the Waterway includes 1201 Lake Robbins and 9950 Woodloch Forest.
(k)In 2025, the Company rebranded 6 Waterway (formerly Waterway Plaza II).
| Reconciliation of Real Estate | |||
|---|---|---|---|
| thousands | 2025 | 2024 | 2023 |
| Balance at January 1 | $7,997,009 | $7,558,809 | $6,854,826 |
| Additions | 1,226,214 | 1,431,478 | 1,160,786 |
| Dispositions, write-offs, and land and condominium costs of sales | (774,044) | (993,278) | (456,803) |
| Balance at December 31 | $8,449,179 | $7,997,009 | $7,558,809 |
| FINANCIAL STATEMENT SCHEDULE | Table of ContentsIndex to Financial Statements |
|---|
| Reconciliation of Accumulated Depreciation | |||
|---|---|---|---|
| thousands | 2025 | 2024 | 2023 |
| Balance at January 1 | $949,533 | $829,018 | $717,270 |
| Depreciation Expense | 164,031 | 160,638 | 151,881 |
| Dispositions and write-offs | (31,440) | (40,123) | (40,133) |
| Balance at December 31 | $1,082,124 | $949,533 | $829,018 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.