earnings
confidence high
sentiment positive
materiality 0.60
Five Point Q2 2021: Great Park Venture sells 774 homesites for $328.2M; net loss $2.3M
Five Point Holdings, LLC
- Great Park Venture sold 774 homesites on ~58 acres for $328.2M base price; Five Point received $98.3M in distributions.
- Net loss attributable to Five Point of $2.3M; revenues $8.3M from management services.
- Equity in earnings from unconsolidated entities $12.1M, incl. $11.9M from 37.5% interest in Great Park Venture.
- Total liquidity $361.2M ($236.5M cash + $124.7M revolver availability); credit facility extended to April 2024.
- Priority legacy distribution rights ($476.0M) fully satisfied; remaining $82.7M legacy interest to be paid pro rata.