Major deal on the move

BBX Capital Real Estate, a division of BBX Capital, has entered an agreement to acquire a 50 percent membership interest in The Altman Companies for $22.7 million. The deal includes Altman Development Co., Altman-Glenewinkel Construction, Altman Management Co. and interests in eight multifamily real estate developments. The deal envisions BBX acquiring the other half of the company in the future for $11.8 million. CEO Joel Altman, who was profiled in a recent SFBW cover story, will continue as CEO

Andrea Richard
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