Five Point Extends Great Park Neighborhoods Management Agreement Through 2028

Five Point Holdings, LLC (FPH) has extended its Development Management Agreement (DMA) with Heritage Fields El Toro, LLC to continue overseeing the Great Park Neighborhoods community. The agreement, which was set to terminate on December 31, 2026, has been renewed for an additional two years.

Key Details

• New Term: The agreement is now extended through December 31, 2028.
• Compensation: The terms include an unchanged annual base fee of $13.5 million and incentive compensation equal to 9% of any distributions made by the Great Park Venture.
• Post-Term Incentive: If the agreement is not extended beyond 2028, Five Point will receive a reduced incentive compensation rate of 6.75% on distributions paid thereafter.