- Net income attributable to common stockholders was $8.0 million or $0.19 per diluted common share.
- Adjusted net income was $47.2 million, an increase of $18.7 million compared to the third quarter of 2015.
- Furthered the revitalization of the Seaport District by obtaining approval for the Pier 17 and Tin Building Minor Modification, announcing that iconic Italian fashion store 10 Corso Como will open its only North American location in the district and welcoming iPic Theaters as the first anchor to open as part of the redevelopment.
- Commenced construction of Two Merriweather, a 130,000 square-foot, Class A mixed-use office building in Downtown Columbia after successfully pre-leasing 75.0% of the office space.
- Continued sales momentum at Ward Village with 35 new condominium contracts executed since the end of the second quarter, representing over 11.1% of the remaining inventory under construction as of June 30, 2016. Began construction of Ke Kilohana.
- Strong third quarter MPC performance driven by Bridgeland with 12.2 acres of residential land sales, an increase of 110.3% compared to the same period in 2015, and by The Summit, our joint venture with Discovery Land in Summerlin, which contracted 21 custom lots for approximately $94.3 million in land sales during the third quarter 2016.
- Successfully completed a $238.7 million refinancing at Ward Village, extending the initial maturity to September 12, 2021, and at Two Merriweather, obtaining a $33.2 million non-recourse construction loan maturing on October 7, 2020.
- Announced the appointment of David R. O'Reilly to the position of Chief Financial Officer effective October 17, 2016.
|Three Months Ended September 30,||Nine Months Ended September 30,|
|(In thousands, except per share amounts)||2016||2015||2016||2015|
|Net income attributable to common stockholders||$||7,973||$||156,224||$||158,708||$||100,838|
|Basic income per share:||$||0.20||$||3.96||$||4.02||$||2.55|
|Diluted income per share:||$||0.19||$||0.76||$||3.72||$||1.01|
|Adjusted net income||$||47,242||$||28,509||$||260,231||$||85,892|
|Adjusted income per diluted share:||$||1.10||$||0.66||$||6.09||$||2.00|