Five Point Holdings, LLC
For the period ended Dec 31, 2025. Filed Mar 6, 2026.
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FY2025 · Filed Mar 6, 2026
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Schedule III—Real Estate and Accumulated Depreciation
December 31, 2025
| ($ in thousands) · Initial Cost · Costs CapitalizedSubsequentto Acquisition (a) · Gross Amounts atWhich Carried atClose of Period (b) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description · Location · Encumbrances · Land · BuildingsandImprovements · Land · BuildingsandImprovements · Land · BuildingsandImprovements · Total · AccumulatedDepreciation · Date ofConstruction · DateAcquired /Completed · DepreciationLife | ||||||||||||
| Valencia- Land under development | Los AngelesCounty, CA | $— | $111,172 | $— | $852,489 | $— | $963,661 | $— | $963,661 | $— | 2009 | N/A |
| Candlestick and The San Francisco Shipyard- Land under development | SanFrancisco,CA | — | 1,038,154 | — | 441,464 | — | 1,479,618 | — | 1,479,618 | — | 2016 | N/A |
| Agriculture- Operating property | Los AngelesCounty, CAVenturaCounty, CA | — | 40,634 | 1,114 | (13,477) | 2,657 | 27,157 | 3,771 | 30,928(c) | 2,509 | 2009(d) | |
| Total | $— | $1,189,960 | $1,114 | $1,280,476 | $2,657 | $2,470,436 | $3,771 | $2,474,207(e) | $2,509(e) | |||
(a) Costs capitalized subsequent to acquisitions are net of land sales for real estate development properties and net of disposals, transfers and impairment write-downs for operating properties.
(b) The aggregate cost of land and improvements for federal income tax purposes is approximately $1.8 billion (unaudited). This basis does not reflect the Company’s deferred tax assets and liabilities as these amounts are computed based upon the Company’s outside basis in their partnership interest.
(c) Included in properties and equipment, net in the consolidated balance sheet.
(d) See Note 2 of the Notes to Consolidated Financial Statements for information related to depreciation.
(e) Reconciliation of “Real Estate and Accumulated Depreciation”:
| Reconciliation of Real Estate | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands) | |||
| Balance at beginning of year | $2,328,791 | $2,243,679 | $2,269,325 |
| Improvements and additions (1) | 184,107 | 186,454 | 145,911 |
| Inventory relief from real estate sold | (29,219) | (90,085) | (106,397) |
| Reimbursements and recoveries | (9,472) | (11,257) | (65,160) |
| Balance at end of year | $2,474,207 | $2,328,791 | $2,243,679 |
(1) Improvements and additions include noncash project accruals and capitalized interest.
| Reconciliation of Accumulated Depreciation | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands) | |||
| Balance at beginning of year | $2,345 | $2,284 | $2,152 |
| Additions | 164 | 124 | 132 |
| Disposals | — | (63) | — |
| Balance at end of year | $2,509 | $2,345 | $2,284 |
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