IRVINE, Calif. - Five Point Holdings, LLC (NYSE:FPH), a prominent developer of large mixed-use communities in California, announced the promotion of Mike Alvarado to Chief Operating Officer. Alvarado, who retains his roles as Chief Legal Officer, Vice President, and Secretary, brings over three decades of real estate experience to his new position.
Alvarado's tenure with Five Point began in May 2016 when he was appointed as the company's Chief Legal Officer. Before joining Five Point, he was General Counsel for the company's management team starting in 2011 and spent nearly 20 years at the law firm Allen Matkins Leck Gamble Mallory & Natsis LLP. His background includes a B.A. in Political Science from UCLA and a J.D. from Stanford University.
CEO Dan Hedigan praised Alvarado's extensive experience in real estate, highlighting his involvement in master-planned community entitlement and development across various commercial segments. Hedigan expressed confidence in Alvarado's ability to drive shareholder value through efficient execution of the company's business plan and oversight of entitlement efforts.
Five Point is known for designing and developing large-scale communities that integrate residential, commercial, and public amenities. Its projects include the Great Park Neighborhoods in Irvine, Valencia in Los Angeles County, and Candlestick and The San Francisco Shipyard in San Francisco. These developments are expected to yield approximately 40,000 residential homes and 23 million square feet of commercial space.
This leadership change is part of Five Point's ongoing strategy to strengthen its operational framework and advance the development of its mixed-use communities. The information is based on a press release statement from Five Point Holdings, LLC.
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