Five Point Holdings to acquire a controlling stake in Hearthstone Residential Holdings.

Five Point Holdings, an owner and developer of large mixed-use planned communities, agreed to acquire a controlling stake in Hearthstone Residential Holdings, a provider of capital solutions to the US homebuilding industry. Financial terms were not disclosed. “We’ve had the opportunity to partner with Hearthstone on several transactions and have great respect for their disciplined execution and deep relationships across the homebuilding industry. This acquisition will create new revenue streams for Five Point, while connecting us to a broader network of capital providers and strengthening our relationships with builder partners. Hearthstone’s market insight, innovative approach, and operational excellence are a strong complement to our land development platform, and both companies have established trust with their homebuilder partners. Together, we’re positioned to scale Hearthstone’s land banking business, while further supporting Five Point’s asset-light growth strategy,” Dan Hedigan, Five Point President and CEO.