Andrew Racon's questions to Five Point Holdings LLC (FPH) leadership • Q3 2024
Question
Andrew Racon, a private investor, asked if the company would break out the book value of its San Francisco assets between Candlestick and Hunters Point. He also requested clarification on a $0.5 billion tax basis benefit mentioned in the 2016 prospectus and whether Five Point benefits from it.
Answer
CFO Kim Tobler responded that while the company will consider providing more detail in the future, it does not currently break out the San Francisco assets as they are managed as a single, interrelated project. Tobler confirmed that the additional tax basis is associated with the Valencia project, which is 100% owned by the company, and therefore the benefit accrues entirely to Five Point and has been utilized.