Five Point Holdings LLC (NYSE: FPH) managed to deliver a decent fourth quarter of 2017 performance, while 2017 has been a transformational year for the group. The group raised $420 million via IPO and private placements in May, and then another $500 million of capital was issued senior notes in November.

Their residential efforts were complemented by their entrance into the commercial markets with the acquisition of a 75% interest in Five Point Gateway, which is a $1 million square foot commercial development. The group sees a positive start in 2018. The group saw a limited residential construction activity leading from land constraints which also led to a tight housing market.

The group’s Revenues reached $22.3 million during the fourth quarter ended December 31, 2017 driven by the sale of remnant parcels in Sacramento and Los Angeles County in addition to management services revenue and collection of various builder fees attributable to previous land sales. As per the Newhall Segment, the group continued land development activities with Mission Village is approved for up to 4,055 homesites and over 1.6 million square feet of commercial development. Overall revenues for the segment reached $15.8 million during the fourth quarter 2017. The group sold the rest of 153 residential homesites on over 24 acres at their property in Sacramento, California for gross proceeds of $7.2 million.

San Francisco Segment is continuing their land development activities at Candlestick and Hunter’s Point. They are working with the City of San Francisco to enhance the total amount of commercial square footage entitlement at Shipyard/Candlestick by over 2 million square feet. They are aiming to get approval for the rising entitlement in 2018. The overall revenues reached $1.9 million during the fourth quarter 2017.

The Great Park Segment got from third-party homebuilders, with the percentage of homes sold in Parasol Park, the only active development area within the Great Park Neighborhoods was 78%. As of March 2018, Parasol Park is currently more than 90% sold out, and the Great Park Venture opened a new development area in early March where they earlier delivered 1,007 homesites to eight builders.