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.