FORT LAUDERDALE, Fla., Nov. 26, 2018 (GLOBE NEWSWIRE) — BBX Capital Real Estate, a division of BBX Capital Corporation (NYSE: BBX, OTCQX:BBXTB), in a joint venture partnership with ContraVest and Case, Pomeroy Properties, LLC, today announced the sale of the Addison on Millenia. As a result of the sale, BBX Capital Real Estate received a distribution of net proceeds of $14.4 million.
The Addison on Millenia, a unique collection of 292 sophisticated one, two, and three-bedroom luxury apartments, is located off Millenia Boulevard, near the Millenia Mall. The Addison on Millenia was a component of Gardens on Millenia, BBX Capital Real Estate’s master-planned, multi-use development, which originally consisted of 47 acres of land located in Orlando, Florida.
About BBX Capital Real Estate: BBX Capital Real Estate is active in the acquisition, ownership and management of real estate development projects and investments in joint ventures. BBX Capital Real Estate also holds legacy assets previously owned by BankAtlantic consisting of loans and charged off loans and judgments. For further information, please visit:
About BBX Capital Corporation:BBX Capital Corporation (NYSE:BBX) (OTCQX:BBXTB) is a Florida-based diversified holding company whose activities include its 90 percent ownership interest in Bluegreen Vacations Corporation (NYSE:BXG) as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.
BBX Capital Contact Info:
Investor Relations: Leo Hinkley, Managing Director, 954- 940-5300
Kip Hunter Marketing, 954-765-1329, Nicole Lewis /Shannon O’Malley
Source: BBX Capital Corporation