FivePoint considering $443 million deal to repurchase Broadcom site – Orange County Register

Great Park Neighborhood home developer FivePoint Communities is considering buying back the Irvine office site it sold to Broadcom for $128 million in 2015, the company said this week.

The total cost of buying back the 72-acre parcel — four massive office buildings under construction there and future building rights — would be about $443 million, the company said Monday in a filing with the U.S. Security and Exchange Commission.

FivePoint can’t comment because it’s in the process of holding an initial public offering on the New York Stock Exchange.

Broadcom originally had grandiose plans for the site, just south of the Orange County Great Park sports facility. When it broke ground in March 2015, the tech firm planned to move its world headquarters there, with approvals to develop up to 2 million square feet, enough for a workforce of 8,000 people.

But the company’s priorities shifted after Singapore-based tech company Avago Technologies bought Broadcom, assumed the new name Broadcom Ltd. and moved its U.S….

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