Five point holdings, llc to acquire controlling interest in new landbank venture with hearthstone, inc.

Irvine, calif.--(business wire)--five point holdings, llc (“five point” or the “company”) (nyse:fph), an owner and developer of large mixed-use planned communities in california, today announced that it has entered into a definitive agreement to acquire a controlling interest in a newly formed entity that will include substantially all of the business and operations of hearthstone, inc. (“hearthstone”), a provider of capital solutions to the u.s. homebuilding industry. the new entity, hearthsto.
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