BBX Capital Real Estate Announces Completion of First Apartment Homes at The Addison on Millenia

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First two buildings of apartment homes at The Addison on Millenia has been completed and the first residents have moved in.

The Addison on Millenia

We are excited to be partnering with ContraVest and to bring quality, highly amenitized, residential living to The Gardens on Millenia.

BBX Capital Real Estate, a division of BBX Capital Corporation, is pleased to announce that the first two buildings of apartment homes at The Addison on Millenia has been completed and the first residents have moved in.

Located within BBX Capital Real Estate’s 47-acre mixed use development known as Gardens on Millenia in Orlando, FL, The Addison on Millenia is expected to consist of ten buildings with a total of 292 apartment homes. Located on an approximate 11.5 acre parcel, the community features a mix of studio, one, two, and three bedroom apartment homes ranging from 592 to 1,413 square feet.

The Addison on Millenia features unit amenities including gourmet kitchens, energy star appliances, granite counters, spa-inspired bath tubs, granite counters and spacious linen closets. Indirect attached garages are also planned for select units. Residents have access to amenities including an 8,000sf clubhouse, business center, resort style pool, outdoor gourmet kitchen with gas grills, a full circuit fitness center, an outdoor social area with a fire pit, a billiard table and gaming stations, and various pet friendly features.    

The master plan for Gardens on Millenia includes approximately 300,000 square feet of total retail space and two one-acre outparcels. As previously announced, BBX Capital Real Estate entered into a joint venture agreement with Stiles Corporation to develop an approximately 141,100 square foot retail center which includes a Hobby Lobby and Academy Sports as anchors along with 23,200 square feet of inline retail space. BBX Capital Real Estate also sold 15.46 acres of land to Costco Wholesale Corporation in which Costco opened an approximate 152,000 square foot store and gas station adjacent to the retail center. Other retailers and restaurants in the center include Mattress One, Navy Federal Credit Union, Paris Nails, Tijuana Flats, Five Guys Burgers & Fries, Culver’s, Meson Sandwiches, and Huey Magoo’s.

“The Addison on Millenia brings additional excitement to the master-planned community and we are pleased to announce our continued progress,” said Bruce Parker, Managing Director of BBX Capital Real Estate. “We are excited to be partnering with ContraVest and to bring quality, highly amenitized, residential living to The Gardens on Millenia.”

For more information on The Addison on Millenia, please call 844-912-1687 or visit http://www.theaddisononmillenia.com.

About BBX Capital Real Estate: BBX Capital Real Estate, a division of BBX Capital Corporation, is involved in the development, operation, management, and investment in residential and commercial real estate including investments, directly and indirectly through joint ventures, in master planned communities, multifamily rental communities, single family for sale communities and commercial properties located primarily in Florida. For more information, please visit http://www.BBXCapitalRealEstate.com.

About BBX Capital Corporation: BBX Capital Corporation is a diversified holding company whose principal activities are its ownership of Bluegreen Corporation and, through its Real Estate and Middle Market Divisions, the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects and middle market operating businesses. As of March 31, 2017, BBX Capital had total consolidated assets of $1.4 billion, shareholders' equity of $477.9 million, and total equity of $521.6 million. For more information, please visit http://www.BBXCapital.com.

About ContraVest: ContraVest is a vertically integrated luxury apartment real estate development company that performs all the function required to bring an apartment asset to life; development, general contracting and property management. ContraVest is a 31 year old company with over 28,000 apartment homes developed and built in excess of $1.5B in asset value. Its development partners and investors include large financial institutions, private investors and middle size funds. Currently ContraVest has in excess of $234M in apartment assets under construction totaling over 1770 units. For more information about ContraVest visit http://www.contravest.com.

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Kip Hunter

Terry Frank
BBX Capital
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