In June 2014, BBX Capital Real Estate entered into a joint venture agreement with an affiliate of Procacci Development Corporation. The joint venture acquired three acres of real estate located at Bayview Drive and Sunrise Boulevard in Fort Lauderdale, Florida. The new joint venture entity, Sunrise and Bayview Partners, LLC, is a 50% – 50% joint venture between BBX Capital Real Estate and an affiliate of Procacci Development.
Bonterra is a new master-planned community located in Hialeah, in Miami-Dade County, Florida. Bonterra community will be built on approximately 128 acres. Once completed, the Bonterra community is planned to have approximately 1,171 highly stylized single-family homes, villas, town homes, and apartments, along with amenities including a clubhouse, fitness center, resort pool, parks, and a 15 acre lake.
BBX Capital Real Estate entered into a joint venture with The Altman Companies to develop Altis at Bonterra. Located within BBX Capital Real Estate’s Master-Planned community of Bonterra in Hialeah, Florida, Altis at Bonterra will comprise of 314 apartment homes on approximately 14 acres.
BBX Capital Real Estate entered into a joint venture with ContraVest to develop The Addison on Millenia. Located within BBX Capital Real Estate’s mixed use development known as Gardens on Millenia, The Addison on Millenia is planned to comprise of 292 apartment homes on approximately 11.5 acres.
In December 2013, BBX Capital Real Estate purchased a commercial property in Palm Beach Gardens, Florida, with three existing buildings consisting of 145,000 square feet of mainly furniture retail space. The property, which is located in a larger mixed use property now known as PGA Station, was substantially vacant at the date of acquisition. Subsequent to the acquisition of the property, BBX Capital Real Estate entered into a joint venture with Stiles Development which acquired a 60% interest in the joint venture. BBX Capital Real Estate also owns an office building and land located in the newly named PGA Station. The joint venture described above is adjacent to PGA Station.
RoboVault is a state-of-the-art self-storage facility located at 3340 SE 6th Avenue in Fort Lauderdale, minutes from the airport and downtown. RoboVault offers exceptional storage at everyday rates; its one-of-a-kind automated retrieval system and air-conditioned, private loading bays represents the ultimate in convenient storage; no hallways, carts, tight doorways, and bumps in the floor to avoid any hassle and to make storage easy.
The Village at Victoria Park, located near downtown Fort Lauderdale, Florida, in the highly desirable Victoria Park neighborhood, will be built on a 2.3 acre parcel previously a part of the original BankAtlantic headquarters site. The community will consist of 30 highly amenitized two story cluster homes with private courtyards.