BBX Capital JV agrees to sell Altis Little Havana; expects net cash distribution of ~$9.5M

BBX Capital, Inc.

Altis Little Havana JV entered sale agreement; buyer made $5M non-refundable deposit on May 25, 2022.
Closing expected in June 2022; BBXRE anticipates net cash distribution of approx. $9.5 million.
Carrying amount of BBXRE's investment in JV was approx. $1.1M as of March 31, 2022.
Sale subject to customary closing conditions; no assurance of completion.

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