Five Point Holdings Inc., a developer of master-planned communities in California co-owned by Lennar Corp., is considering an initial public offering.
Five Point submitted a draft registration statement to the Securities and Exchange Commission for a possible stock sale, according to a statement Tuesday. The number of shares and price haven’t been determined.
Five Point’s communities include Newhall Ranch and Great Park Neighborhoods outside Los Angeles and the Shipyard and Candlestick Point in San Francisco. Emile Haddad, a former executive at Miami-based Lennar, will be chairman and chief executive officer of the company.
Aaron Curtiss, a spokesman for Aliso Viejo, California-based Five Point, declined to comment on the possible offering.