SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2014

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 16 SUBSEQUENT EVENTS

On July 15, 2014 we closed a $311.8 million financing for the construction of Downtown Summerlin development.  Please refer to Note 8 — Mortgages, Notes and Loans Payable for a further description.

On July 18, 2014 we purchased for $12.3 million the fee interest in 110 N. Wacker, which we had previously leased.

On August 6, 2014 we closed a $69.3 million financing for the construction of the Waterway Square Hotel. The loan is at one-month LIBOR plus 2.65% with an initial maturity date of August 6, 2018, and one one-year extension option.