Five Point extends Great Park Neighborhoods agreement through 2028, keeps $13.5 million annual base fee
FPH•FivePoint extended its Great Park Neighborhoods development management agreement through Dec. 31, 2028, keeping the annual base fee at $13.5 million.
1. Agreement terms
The $13.5 million base fee will be paid monthly, and incentive compensation is set at 9% of distributions from the Great Park Venture to interest holders. If the agreement ends in 2028, a payout is due based on cash available for distribution; incentive compensation on distributions paid after Dec. 31, 2028, would be 6.75%.
