Aliso Viejo, CA-based FivePoint Holdings LLC filed plans to take the company public. The developer, which spun-off from Lennar Corp. in 2009, is currently developing some of the largest master-planned communities in California.
In the Bay Area, it is developing the second phase of the San Francisco Shipyard and Candlestick Point, which total 12,000 homes. In SoCal, FivePoint is developing the 21,500-home Newhall Ranch project in Valencia, as well as Orange County’s 9,500-home Great Park Neighborhood in Irvine.
FivePoint is also managing the development for two Lennar Bay Area projects; Treasure Island and Concord Naval base, though it doesn’t have an ownership position in either.
A final valuation or timing of the public offering hasn’t been determined, but the move is viewed as a sign of confidence in California’s urban housing sector.
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