BBX Capital Real Estate and Stiles Announce the Sale of Two Parcels at Gardens on Millenia, in Orlando, Florida
Posted on 6/18/2018
BBX Capital Real Estate, a division of BBX Capital Corporation (NYSE: BBX), announced today the sale of two parcels at its Gardens on Millenia development located in Orlando, Florida.In December 2017, BBX Capital Real Estate's joint venture partner, Stiles Property Fund, sold a parcel at Gardens on Millenia, which included a Hobby Lobby and an Academy Sports, for $17.0 million. As a result of this transaction, BBX Capital recognized a gain through equity earnings of approximately $2.0 million.
Separately, in January 2018, BBX Capital Real Estate also sold a .6 acre outparcel at Gardens on Millenia. As a result of this sale, BBX Capital recognized a gain of $625,000.