Five Point Holdings, LLC has announced the appointment of Mike Alvarado as Chief Operating Officer, effective immediately. Mr. Alvarado, who has over 30 years of experience in real estate, will continue to serve in his current position as the Company’s Chief Legal Officer, Vice President, and Secretary. Prior to joining Five Point, he spent nearly 20 years at a top-rated California-based law firm, representing public and private real estate companies, operators, and financial institutions in real estate development and finance transactions on projects throughout the country.
Five Point's Chief Executive Officer, Dan Hedigan, expressed his excitement about Mike's appointment, highlighting his deep experience in master-planned community entitlement and development, as well as in various commercial segments such as industrial, office, and retail. He also emphasized Mike's integral role in building the internal legal and operational framework that enables the execution of the Company's development strategies. Hedigan expressed confidence in Mike's ability to drive shareholder value and ensure efficient execution of the Company's business plan, particularly in overseeing entitlement efforts across all of Five Point's communities.
Five Point Holdings, LLC is headquartered in Irvine, California, and specializes in designing and developing large mixed-use planned communities in Orange County, Los Angeles County, and San Francisco County. These communities are intended to include approximately 40,000 residential homes and around 23 million square feet of commercial space, integrating residential, commercial, retail, educational, and recreational elements with public amenities.
As a result of these announcements, the company's shares moved -2.8% on the market, and are now trading at a price of $3.18. For more information, read the company's full 8-K submission here.
