HomeFed Corporation, together with its subsidiaries, invests in and develops residential and commercial real estate properties in California, Virginia, South Carolina, Florida, Maine, and New York. Segments The company operates through Real Estate and Farming segments. Real Estate segment This segment’s operations consist of various residential land development projects and commercial properties and other unimproved land, all in various stages of development. This segment also includes the equity method investments in BRP Holding and BRP Hotel, all of which were acquired during 2014. San Elijo Hills: The San Elijo Hills project, a master-planned community located in the City of San Marcos in San Diego County, California, would be a community of approximately 3,500 homes and apartments, as well as a commercial and residential Towncenter. As of December 31, 2014, the San Elijo Hills project has sold 2,237 of the 2,382 single family lots and 1,071 of the 1,081 multi-family units. In addition, the project has 37,800 square feet of commercial space in the Towncenter. The Towncenter includes multi-family residential units and commercial space, which are being constructed in phases. The company has completed construction of the first phase of the Towncenter, which included 12 residential condominium units, all of which have been sold, and 11,000 square feet of commercial space, all of which has been leased. Otay Ranch: The company’s subsidiary, Otay Land Company, LLC (Otay Land Company), owns approximately 2,800 acres, of which the total developable area is approximately 700 acres, including approximately 170 acres of land designated as ‘Limited Development Area and Common Use Area’. The remaining approximately 2,100 acres are designated as various qualities of non-developable open space mitigation land. The Otay Ranch project is approved for 6,050 residential units and 1.8 million square feet of commercial space. Ashville Park: Ashville Park is a 450 acre master planned community located in Virginia Beach, Virginia, with 451 entitled single family lots. As of December 31, 2014, all lots in Village A were sold and 127 lots in Village B were sold. As of February 6, 2015, the remaining 37 lots in Village B are under contract to be sold. Fanita Ranch: Fanita Ranch property is a 2,600 acre parcel of vacant land located in Santee, California. Fanita Ranch was approved for approximately 1,400 residential units. Market Common: The Market Common, located in Myrtle Beach, South Carolina, is a mixed-used retail, office and residential lifestyle center, including adjacent land for future commercial and residential development. The 114 acre mixed-use development is part of a larger 3,900 acre redevelopment of the Myrtle Beach Air Force Base. The Market Common includes a 346,580 square foot retail center, approximately 40,000 square feet of office space and 125 long term and 70 short term apartment units. The balance of the residential land was entitled for up to 866 townhomes and 575 condominiums. SweetBay Project: The SweetBay Project is a 700 acre mixed use master planned community located in Panama City, Florida. The project is a bay front planned community with approximately 5 miles of shoreline at the site of the former Panama City-Bay County International Airport. SweetBay is entitled for up to 3,200 single family and multi-family units, 700,000 square feet of commercial space, a marina with approval for 117 wet slips and 240 dry docks, as well as an extensive trial system, neighborhood parks and the new site of University Park Charter Academy. Maine Projects: The Maine Projects include Brewster Point, Northeast Point and miscellaneous small mixed use buildings and lots in and around Rockport, Maine. All of these properties are located in mid-coast Maine near the town of Camden. Brewster Point, located in the town of Rockport, is an entitled 115 acre oceanfront project subdivided into 45 lots and 1 existing residence. Brewster Point has lots ranging from 0.5 acre to 2 acres, with 19 of the 45 lots on the shoreline. Northeast Point is an entitled 45 acre project subdivided into 12 oceanfront lots and 1 existing residence on Islesboro Island, a small island community that is accessed by ferry service from Lincolnville, Maine, just north of Camden, Maine. Pacho Project (Wild Cherry Canyon): The Pacho Project is a leasehold interest in six separate contiguous parcels totaling 2,369 acres of unentitled property located along the central California coast in San Luis Obispo County, California. BRP Leasing: BRP Leasing is the indirect obligor under a lease through October 2018 of approximately 286,500 square feet of office space at Brooklyn Renaissance Plaza, substantially all of which has been sublet through October 2018. Brooklyn Renaissance Plaza: Brooklyn Renaissance Plaza is comprised of a 665 room hotel operated by Marriott, an approximate 850,000 square foot office building complex and an 888 space parking garage located in Brooklyn, New York. The company owns a 25.80% equity interest in the hotel and a 61.25% equity interest in the office building and garage. Farming This segment’s operations consist of the Rampage property which includes an operating grape vineyard and an almond orchard under development. The Rampage Property is a 1,544 acre grape vineyard located in southern Madera County, California. History HomeFed Corporation was incorporated in Delaware in 1988.
homefed corp (HOFD:OTC US)
1903 Wright Place
Carlsbad, CA 92008
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