The privately-held owners of Newhall Land, the developers of Valencia who hope to build another planned community of equal scope at Newhall Ranch, are going public.
On Friday, Five Point Holdings LLC, commonly known as FivePoint, filed documents with the federal Securities and Exchange Commission saying it will conduct an initial public offering. If the IPO is successful, the company will trade on the New York Stock Exchange under the ticker symbol FPH.
As a standalone company, Newhall Land was listed on the NYSE from 1970 to 2004. That year, Emile Haddad, then Chief Investment Officer of Lennar Corp. a Miami-based development company, put together a joint venture that bought Newhall Land for about $1 billion, the filing said.
Aliso Viejo-based FivePoint is the largest owner and developer of mixed-use, master-planned communities in coastal California, the filing said, “based on the total number of residential homesites permitted to be built under existing entitled zoning.”
Locally, the company is seeking state and Los Angeles County approval to begin construction on the first two of nine phases of Newhall Ranch on 15,000 acres of land it owns west of…