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Land Sales May Hit $3.9B at FivePoints’ OC Great Park
FivePoint Communities’ recent IPO filing revealed that the Great Park Neighborhoods project site could generate $3.9 billion in land sales from developers. Great Park Venture, the development partnership, has already generated nearly $1.6 billion in lot sales at the former El Toro Marine base.
So far, just 41% of the planned homesites have been released for development. That amounts to 3,866 lots of the 9,500 planned. The remaining 5,634 homesites could generate $2.3 billion more in sales should they be priced similarly to the initial lots.
The Great Park Venture has invested $2.18 billion in development costs thus far, including $1.07 billion related to the properties already sold, and $1.1 billion allocated to future lot sales, according to the SEC filing.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition

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