BBX Capital Closes on the Sale of its Logistics Development Division

FORT LAUDERDALE, Fla. — On October 21, 2025, subsidiaries of The Altman Companies, LLC (collectively, “Altman”), a wholly-owned subsidiary of BBX Capital, Inc. (OTCID: BBXIA, BBXIB), closed on the sale of Altman’s logistics development division, including (i) the sale of all of Altman’s interests in its logistics development projects and its subsidiary which provides loan repayment and completion guarantees on such projects and (ii) the assignment of its existing development management agreements and agreements for logistics development projects in its pipeline. The gross purchase price of the transaction was approximately $33.5 million, including $10.0 million attributable to restricted cash held by Altman’s guaranty subsidiary and $23.5 million attributable to the remaining assets. In connection with the closing of the transaction, Altman received net proceeds of $30.6 million after transaction-related expenses, proceeds distributed to noncontrolling interests, and amounts held in escrow for an indemnification provided by Altman pursuant to the purchase and sale agreement with the buyer. As of June 30, 2025, the carrying value of the logistics development division, including the restricted cash held by the guaranty subsidiary, was approximately $26.8 million, including amounts attributable to noncontrolling interests.

Released October 24, 2025