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Howard Hughes Rises to Record on Development Optimism

Howard Hughes Corp., the property developer whose chairman is hedge fund manager Bill Ackman, rose to a record on investor optimism over the company’s U.S. real estate projects.

Howard Hughes’s One Ala Moana development in Honolulu sold out 206 luxury condominiums in 29 hours, the Dallas-based company said today in an investor presentation that was included in a regulatory filing. Chief Executive Officer David Weinreb made the presentation at the Harbor Investment Conference in New York. The event is co-chaired by Ackman, the founder of Pershing Square Capital Management LP.