Five Point Holdings, an owner and developer of large, mixed-use planned communities in California, announced the formation of a new residential land banking investment partnership executed by its Hearthstone Residential Holdings platform, with funds managed by Blue Owl Capital.
The investment partnership is designed to support the acquisition of residential homesites and land assets in high-quality U.S. housing markets, leveraging Hearthstone’s operating expertise, sourcing capabilities and long-standing relationships with national homebuilders.
“This transaction represents an important milestone for Hearthstone and for Five Point,” said Dan Hedigan, president and CEO at Five Point. “Following our acquisition of the Hearthstone platform mid-last year, this new partnership marks a critical first step in scaling the land banking business that is being led by Mark Porath, the CEO of our Hearthstone subsidiary, with an institutional partner that shares our long-ter
