Current Report Filing (8-k)
August 16 2018 - 11:39AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
August 10, 2018
Date of report (date of earliest event reported)
FIVE POINT
HOLDINGS, LLC
(Exact name of registrant as specified in its charter)
|
|
|
|
|
Delaware
|
|
001-38088
|
|
27-0599397
|
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
25 Enterprise, Suite 300, Aliso Viejo, California
|
|
92656
|
(Address of principal executive offices)
|
|
(Zip Code)
|
(949)
349-1000
(Registrants telephone number, including area code)
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below):
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
|
☐
|
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
|
☐
|
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company ☒
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☒
Item 1.01
|
Entry into a Material Definitive Agreement.
|
On August 10, 2018, CP Development Co., LLC (CPDC), a subsidiary of Five Point Holdings, LLC (together with CPDC,
the Company), amended its Disposition and Development Agreement (Candlestick Point and Phase 2 of the Hunters Point Shipyard) (the Agreement) with the Successor Agency to the Redevelopment Agency of the City and
County of San Francisco (the Agency) pursuant to the Third Amendment to Disposition and Development Agreement (Candlestick Point and Phase 2 of the Hunters Point Shipyard) (the Amendment) with the Agency.
Pursuant to the terms of the Agreement, which was originally entered into in 2010, the Agency agreed to convey portions of the Candlestick
Point (Candlestick) and The San Francisco Shipyard (Shipyard) sites either owned or acquired by the Agency to the Company for development. The Agency is entitled to a return of certain profits generated from the development
and sale of the Candlestick and Shipyard sites if certain thresholds are met.
Pursuant to the terms of the Amendment, the Company has the
right to develop approximately 2.1 million square feet of additional commercial space at the Candlestick and Shipyard sites for a combined total of approximately 6.3 million square feet of commercial space across the sites. The Amendment also grants
the Company the right to develop an additional 172 homesites, resulting in a total of 10,672 homesites across the sites, approximately 32% of which will constitute affordable housing. The Amendment reallocates these 10,672 homesites between the
two sites as follows: up to 3,454 homesites on the Shipyard site and up to 7,218 homesites on the Candlestick site. The Amendment also permits reallocations of land uses between the sites, subject to certain limitations.
The Company is obligated under the Amendment to develop an additional 11.7 acres of public parks and open spaces for a total of 337.7 acres
across the Candlestick and Shipyard sites and 8.1 acres of privately owned, publicly accessible open space on the Shipyard site. The Company has also agreed to reimburse the Agency for certain costs and expenses actually incurred by the Agency in
performing its obligations under the Agreement.
The above description of the Amendment is a summary and is qualified in its entirety by
the terms of the Amendment. A copy of the Amendment is attached as Exhibit 10.1 hereto and incorporated by reference herein.
Item 9.01
|
Financial Statements and Exhibits.
|
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned duly authorized.
Date: August 16, 2018
|
|
|
FIVE POINT HOLDINGS, LLC
|
|
|
By:
|
|
/s/ Michael Alvarado
|
Name:
|
|
Michael Alvarado
|
Title:
|
|
Chief Legal Officer, Vice President and Secretary
|
Five Point (NYSE:FPH)
Historical Stock Chart
From Jul 2024 to Aug 2024
Five Point (NYSE:FPH)
Historical Stock Chart
From Aug 2023 to Aug 2024