24.   Subsequent Events



Subsequent events have been evaluated through the date the financial statements were available to be issued. As of such date, other than described below or elsewhere herein, there were no subsequent events identified that required recognition or disclosure.



In February 2021, BBX Capital Real Estate invested $4.9 million as one of a number of investors in a new joint venture with Label & Co. to develop Sky Cove South at Westlake, a residential community that will be adjacent to Sky Cove at Westlake and is expected to be comprised of 197 single-family homes. BBX Capital Real Estate is entitled to receive 26.25% of the joint venture distributions until it receives its aggregate capital contributions plus a specified return on its capital. After all investors receive a specified return and the return of their contributed capital, any distributions thereafter are shared based on earnings, with Label & Co., as the managing member, receiving an increasing percentage of distributions.