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
Hollywood recording studio hits market for first time in 50 years
Historic LA-area ski resort back on market after failed membership club plans
Unraveling All the Details Behind Wicker’s Wicker
‘Days of Our Lives’ producer lists Toluca Lake home for $17M
Lauren Conrad’s Laguna Beach Mansion Lists for $26.5 Million—Plus 5 More Luxury Homes for Sale
Front Office: Leset
Broe breaks into SoCal multifamily with $148M acquisition from Greystar
Caruso donates to Ben Allen’s CA insurance commissioner bid
Jeweler Karl Stittgen’s $1.2M Island Home Is an Ode to Frank Lloyd Wright
6 Ways You’re Wasting Money on Energy Every Night Without Realizing It
"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