Blue Owl backs FivePoint on $1.7B land banking deal
FivePoint Holdings is committing to land banking with its latest partnership. Irvine-based FivePoint is teaming up with Blue Owl Capital to buy up to $1.7 billion of land in the U.S. housing market, the Orange County Business Journal reported. In exchange for committing capital to land acquisition efforts, Blue Owl-managed funds will be able to buy Five Point shares at $7 each once it meets contribution thresholds starting at $500 million. The partnership builds on FivePoint’s acquisition last year of Hearthstone Residential Holdings. Since acquiring a 75 percent stake in Hearthstone for nearly $59.3 million, FivePoint has been expanding into […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Secessionist references weave through Vienna's Wilde aparthotel
Measure ULA tax could see nearly 75% haircut under new state bill
Rockstar Energy Founder Russ Savage Just Listed 5 Homes for a Combined $297 Million
Oakley founder’s brutalist Beverly Hills estate sells for $47M
Developer loads up Reseda vacant lot with 20 homes, ADUs
Backyard Upgrades for Day-to-Night Entertaining
Perez Hilton Is Leaving Las Vegas, Listing His Modern Mansion for $4.25 Million
Kingsbarn and Kelemen swapping offices for 480 homes in Laguna Hills
Design Debate: Should We Be “Chopping” Our Pillows?
Dr. Phil’s Former Beverly Hills Residence Returns as a $65,000-a-Month Rental
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
26895 Aliso Creek Rd, B-603, Aliso Viejo, California, 92656, USA