BBX Capital Real Estate, Stiles Joint Venture Complete Sale Of Palm Beach Gardens Property

Mar 29, 2018 No Comments by

BBX Capital Corporation announced that BBX Capital Real Estate, a division of BBX Capital, and its joint venture partner, Stiles Property Fund, had completed the sale of a building (click on the building image to the left to enlarge) at the BBX Capital’s PGA Station development located in Palm Beach Gardens.

In January 2018, the BBX/Stiles joint venture sold a 43,400-square foot building partially occupied by La-Z-Boy at the PGA Station development for approximately $7.4 million. As a result, BBX Capital recognized its share of the gain through equity earnings of approximately $1.3 million.

The BBX/Stiles joint venture at PGA Station originally encompassed the sale or lease of three buildings. As a result of the above sale, two remaining buildings are currently available for sale or lease.

Dustin Ozga, Vice President of Stiles Realty, represented the BBX/Stiles joint venture in the disposition and Scott Weprin of Michael Falk & Company co-brokered the sale, representing the Buyer, Precise Property.

BBX Capital Real Estate is the master developer of PGA Station. Future plans for the development include three buildings encompassing approximately 188,000 square feet of Class A office space.




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Industry News, Palm Beach County Retail, Retail
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