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Latham & Watkins Advises Blue Owl on Land Banking Investment Partnership With Five Point Holdings, LLC and Hearthstone Residential
February 17, 2026
Firm represents Blue Owl in the investment partnership to support the acquisition of residential homesites and land assets in high-quality US housing markets.
Five Point Holdings, LLC (NYSE: FPH), an owner and developer of large mixed-use planned communities in California, has announced the formation of a new residential land banking investment partnership executed by its Hearthstone Residential Holdings platform, with funds managed by Blue Owl Capital Inc. (Blue Owl) (NYSE: OWL).
Latham & Watkins LLP represented Blue Owl with a deal team led by New York partners Mark Semotiuk and Mark Proctor, and Boston/New York partner Kristen Grannis, with associate Avery Rux.