Simpson Thacher represented J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Comerica Securities, Inc. and Zions Direct, Inc. as dealer managers and solicitation agents in connection with the exchange offer by Five Point Operating Company, LP and Five Point Capital Corp. to exchange any and all of their outstanding 7.875% Senior Notes due 2025 (the “2025 Notes”) for 10.500% Initial Rate Senior Notes due 2028 and cash and the solicitation of consents from Holders to effect certain proposed amendments to the 2025 Notes. The exchange offer settled on January 16, 2024.~~Five Point, headquartered in Irvine, California, designs and develops large mixed-use planned communities in Orange County, Los Angeles County, and San Francisco County that combine residential, commercial, retail, educational, and recreational elements with public amenities, including civic areas for parks and open space.~~The Simpson Thacher team for the transaction included Marisa Stavenas, John G. O’Connell, Matthew Petrone, Alex Michael and Jessica B. Ryan (Capital Markets); Michael E. Mann and Kris Liu (Tax); Marisa Geiger and Bobbie Burrows (Intellectual Property); Pasco Struhs (ECEB); Michael Isby (Environmental); Tim Gallagher (Real Estate); and Jennie Getsin (Blue Sky). Adriana Estor-Restrepo also provided valuable assistance.