BBX Capital Real Estate announces sale of 312-unit Altis Ludlam Trail; $21.3M in cash distributions

BBX Capital, Inc.

Altis Ludlam Trail, a 312-unit multifamily community in Miami, sold; was 98% leased at closing.
Consolidated subsidiary received $9.0M cash distribution from managing member investment.
BBX Capital Real Estate received $12.3M cash distribution from preferred equity investment.
Aggregate carrying amount of investments was $20.3M as of March 31, 2023, including remeasurement gain.
Construction started 2020, substantially completed 2022.

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