Five Point Holdings, LLC has announced changes to its Board of Directors, with Sam Levinson, Chief Investment Officer at Glick Family Investments, being appointed to the Board immediately. This appointment follows the recent sale by Castlelake, L.P. and its affiliated funds to GFFP Holdings, LLC, an entity controlled by Glick, of all equity interests owned by Castlelake in the Company.
Concurrently with the closing of the transaction, Evan Carruthers, Castlelake’s Managing Partner, Chief Executive Officer, and Chief Investment Officer, will be stepping down as a member of the Company’s Board.
Five Point's Executive Chairman of the Board, Stuart Miller, expressed gratitude for Evan’s contributions to the Board and the partnership of Castlelake, highlighting Evan’s valuable insight and guidance in building a foundation and shaping the direction of the Company.
Sam Levinson, the newly appointed Board member, expressed belief in the Company’s potential, the value of its land holdings in prime California markets, and its management team. He also conveyed excitement about the opportunities for growth and looks forward to contributing to the Company's evolution.
Five Point's Chief Executive Officer, Dan Hedigan, expressed pleasure in having Sam join the Board, highlighting Sam’s history of success and extensive experience in real estate investments.
About Five Point: Five Point, headquartered in Irvine, California, designs and develops large mixed-use planned communities in Orange County, Los Angeles County, and San Francisco County. These communities are designed to include up to approximately 40,000 residential homes and up to approximately 23 million square feet of commercial space.
For more information: Five Point Holdings, LLC Investor Relations: Kim Tobler, 949-425-5211 Media: Eric Morgan, 949-349-1088 The market has reacted to these announcements by moving the company's shares 1.9% to a price of $4.31. Check out the company's full 8-K submission here.
