Five Point to acquire 75% stake in Hearthstone venture for $56.25M, expanding homebuilder capital solutions

Five Point Holdings, LLC

Purchase price $56.25M cash (up to $3M in Five Point shares) for 75% of Class A Units in Hearthstone Residential Holdings.
Hearthstone Group (founder Mark Porath) retains 25% and contributes co-investment assets valued at least $12.5M.
Hearthstone, founded 1992, manages $2.6B AUM; has funded $21B+ across over 173,000 homes/lots via 750+ transactions.
Closing expected by end of Q3 2025; Hearthstone's management team led by Mark Porath will continue to run the venture.
Five Point CEO cites new revenue streams and stronger homebuilder relationships; no financial guidance changed.

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