Mission Statement, Vision, & Core Values (2024) of Five Point Holdings, LLC (FPH)

An Overview of Five Point Holdings, LLC (FPH)

General Summary of Five Point Holdings, LLC (FPH)

Five Point Holdings, LLC (FPH) is a prominent real estate development firm based in the United States, primarily focused on the development of large-scale master-planned communities. Established in 2014, the company has developed significant projects such as Valencia, San Francisco Shipyard, and Great Park Neighborhoods. As of 2024, Five Point Holdings operates multiple segments, including Valencia, San Francisco, Great Park, and Commercial, offering residential, commercial, and mixed-use developments.

As of 2024, FPH reported total sales of approximately $78.1 million, reflecting a decrease from $93.0 million in 2023. The company’s revenue is mainly derived from land sales and management services, with a focus on enhancing community development and creating sustainable living environments.

Company's Financial Performance in the Latest Financial Reports

In the most recent financial reports for the three months ended September 30, 2024, Five Point Holdings reported total revenues of $17.0 million, a significant decrease of 74.2% from $65.9 million for the same period in 2023. The primary reason for this decline was the absence of land sales in the Valencia segment, which had previously generated $60.7 million in the prior year.

Key financial metrics for the three months ended September 30, 2024, include:

For the nine months ended September 30, 2024, total revenues were reported at $78.1 million, down from $93.0 million in the same period in 2023. The company’s net income for the nine-month period was $56.6 million, compared to $55.0 million in the prior year. The effective tax rate for the nine months ended September 30, 2024 was comparable to the previous year, reflecting stability in tax provisions amidst fluctuating revenues.

Introduction to Company as One of the Leading Companies in the Industry

Five Point Holdings is recognized as a leader in the real estate development industry, particularly in the creation of large-scale, integrated communities. The company's strategic focus on sustainable development and partnership with local governments has positioned it favorably in the market. FPH's innovative approach includes leveraging its significant land holdings, estimated at over 15,000 acres across various segments, to meet the growing demand for housing in chronically undersupplied markets.

As of September 30, 2024, Five Point Holdings had combined assets of approximately $1.1 billion, with total liabilities amounting to $61.2 million. The company continues to experience strong demand for land, evidenced by the completion of two retail use commercial land sales totaling 12.8 acres at the Great Park Neighborhoods for $25.4 million in the third quarter of 2024. The successful execution of its development management agreements has enabled FPH to maintain its industry leadership and financial stability through strategic growth initiatives.

Mission Statement of Five Point Holdings, LLC (FPH)

Mission Statement Overview

The mission statement of Five Point Holdings, LLC (FPH) serves as a foundational guide, outlining the company's commitment to developing high-quality, sustainable communities that enhance the quality of life for residents while generating value for stakeholders. This mission is critical in steering the company's long-term goals and strategies in the real estate development sector.

Core Component 1: Community Development

Five Point Holdings emphasizes its dedication to creating vibrant communities. This commitment is evidenced by its projects, including the Valencia community, which spans approximately 15,000 acres and is planned to include up to 21,500 homesites and approximately 11.5 million square feet of commercial space . As of September 30, 2024, the company reported total land sales revenues of $1.2 million, a significant decrease from $61.3 million in the previous year, primarily due to the absence of land sales during the period.

Core Component 2: Environmental Sustainability

FPH's mission incorporates a strong focus on environmental sustainability. The company aims to integrate green building practices and sustainable land use into its development projects. For instance, the Great Park Neighborhoods project in Orange County, California, reflects this commitment by incorporating parks and open spaces within the residential layout. As of September 30, 2024, FPH had approximately $2.34 billion in inventories, which includes environmentally sustainable developments .

Core Component 3: Stakeholder Engagement

Engaging with stakeholders is another pillar of FPH's mission. The company strives to maintain transparent communication with investors, community members, and local governments. This approach is evident in their management services, which generated $75.0 million in revenue for the nine months ended September 30, 2024, highlighting the company's ability to leverage partnerships effectively. Furthermore, the Great Park Venture yielded $49.4 million in distributions and related payments, showcasing the financial benefits of stakeholder collaboration .

Vision Statement of Five Point Holdings, LLC (FPH)

Vision Statement of Five Point Holdings, LLC (FPH)

The vision statement of Five Point Holdings, LLC (FPH) focuses on sustainable development, community building, and innovative land use strategies. The company aims to create vibrant, connected communities that enhance the quality of life for residents and contribute to the economic growth of the regions in which they operate.

As of 2024, FPH's vision includes strategic goals that emphasize long-term sustainability and responsible land stewardship. The company has set ambitious targets for its developments, including:

• Creating over 12,000 homes across its various communities.
• Incorporating green spaces and parks in all new developments.
• Ensuring that at least 15% of land is reserved for community amenities.

FPH emphasizes the importance of community engagement in its vision. This includes:

• Hosting regular town hall meetings to gather feedback from residents.
• Involving local stakeholders in the planning process.
• Implementing community-based programs aimed at enhancing local culture and identity.

FPH aims to contribute positively to the local economy through its developments. As of 2024, the company has reported:

FPH's vision also encompasses innovation in development practices. The company is committed to:

• Utilizing advanced technology for land planning and construction.
• Incorporating smart city concepts into its developments.
• Adopting sustainable building materials and energy-efficient designs.

As part of its vision, FPH is dedicated to environmental stewardship. This includes:

• Reducing carbon emissions through sustainable practices.
• Implementing water conservation measures in all developments.
• Preserving natural habitats within project areas.

In conclusion, Five Point Holdings, LLC's vision statement for 2024 reflects its commitment to sustainable development, community engagement, economic impact, innovation, and environmental stewardship, positioning it as a leader in the real estate development sector.

Core Values of Five Point Holdings, LLC (FPH)

Integrity

Integrity is a core value that underpins the operations and decision-making processes at Five Point Holdings, LLC (FPH). This value emphasizes transparency, accountability, and ethical behavior in all business dealings.