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| Seth Wise |
FORT LAUDERDALE, FL -- BBX Capital (NYSE: BBX), formerly
BankAtlantic Bancorp, announced that its subsidiary BBX Capital Asset
Management has sold an 8.5-acre land parcel located on the southwest corner of
West Cypress Creek Road and Northwest 21st Avenue in Fort Lauderdale.
The property, a
vacant lot adjacent to the former BankAtlantic headquarters, was sold for $7.2
million to Cypress Creek Property Holdings, for approximately $847,000 an acre.
“Over the last
several months, BBX Capital has transitioned from a bank holding company into a
diversified investment and asset management company,” commented Seth Wise,
President of BBX Capital Asset Management.
“This transaction is a sample of our growing traction and
momentum in the marketplace and our focus towards effectively monetizing our
legacy real estate portfolio, all leading to the goal of allocating capital
towards our core business growth,”
For a complete
copy of the company’s news release, please contact:
Caren Berg
Senior Vice President
Boardroom Communications, Inc
1776 N. Pine Island Road, #320
Plantation, FL 33322
954-370-8999
954-829-7064 Cell
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