Five Point Holdings LLC plans to issue via two of its units $125 million in senior notes paying 7.875%.

Five Point (NYSE: FPH), which is developing Irvine’s Great Park Neighborhoods and projects north of Los Angeles and in San Francisco, said proceeds could include “commercial investment opportunities at its communities.”

Shares in the developer declined about 1.9% in midday trading, Tuesday, to a $1.1 billion market cap.