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Altman closes 50% sale to BBX for $22M

Brian Bandell
Altman closes 50% sale to BBX for $22M

The Altman Cos., one of the largest apartment developers in South Florida, has closed its sale of a 50 percent interest to BBX Capital Real Estate, a division of Fort Lauderdale-based BBX Capital Corp. Founded in 1968 by Joel Altman, the Boca Raton-based Altman Cos. has built and managed over 25,000 apartments in Florida, Michigan, Illinois, Tennessee, Georgia, Texas and North Carolina. Altman will remain CEO of the company. BBX (NYSE: BBX) had previously formed joint ventures with the Altman Cos. for apartment projects across Florida, including Altis Bonterra in Hialeah.