Five Point amends SF development deal; raises debt limit to $5.9B, extends timelines

Five Point Holdings, LLC

Amendment allows transfer of up to 2,050,000 sq ft of R&D/office from Shipyard to Candlestick.
Bonded indebtedness limit increased from $1.7B to $5.9B for Candlestick and Shipyard sites.
Timeframes extended: 30+15 yrs to incur debt, 45+15 yrs to repay, accounting for Navy delays.
Sub-phases eliminated to streamline approval for horizontal and vertical development.

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