FORT LAUDERDALE, Fla., Aug. 27, 2018 (GLOBE NEWSWIRE) -- BBX Capital Real Estate, a division of BBX Capital Corporation (NYSE: BBX) (“BBX Capital”), announced today that home closings at Beacon Lake have commenced by the community’s Phase I builders, Dream Finders Homes and Mattamy Homes, and Beacon Lake’s new homeowners have begun moving in.

BBX Capital Real Estate is the developer of the Beacon Lake master-planned community, located in Northern St. Johns County, Florida. BBX Capital Real Estate currently sells Phase 1 homesite lots to the award-winning builders, Dream Finders Homes and Mattamy Homes, who in turn build homes for sale to homeowners.

Once completed in full, the Beacon Lake multi-phased master-planned community is anticipated to encompass approximately 1,476 residential units, consisting of 1,280 single family homes and 196 townhomes on a 632-acre parcel. Single-family homes and townhomes are projected to range from 1,800 square feet to 4,000 square feet and priced from the high $200,000’s to the $500,000’s.

“We are extremely pleased with our progress at Beacon Lake,” said Bruce J. Parker, Managing Director for BBX Capital Real Estate. “We believe there is a demand for new homes in this price range in St. Johns County and buyers are drawn to Beacon Lake’s family-friendly lakefront amenities and warm neighborhood environment.”

Beacon Lake is conveniently situated on CR-210 between I-95 and US-1, making it an easy commute to Jacksonville and St. Augustine. For more information about Beacon Lake and to see its beautiful, iconic lighthouse entryway, please visit www.BeaconLake.com.

About BBX Capital Real Estate: BBX Capital Real Estate is active in the acquisition, ownership and management of real estate development projects and investments in joint ventures. BBX Capital Real Estate also holds legacy assets previously owned by BankAtlantic consisting of loans and charged off loans and judgments. For further information, please visit http://www.bbxcapital.com/bbx-capital-real-estate/overview/

About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a Florida-based diversified holding company whose activities include its 90 percent ownership interest in Bluegreen Vacations Corporation (NYSE: BXG) as well as its real estate and middle market divisions. For additional information, please visit www.BBXCapital.com.

About Bluegreen Vacations Corporation:Bluegreen Vacations Corporation (NYSE: BXG) is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 215,000 owners, 69 Club and Club Associate Resorts and access to more than 11,100 other hotels and resorts through partnerships and exchange networks as of June 30, 2018. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is 90% owned by BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), a diversified holding company. For further information, visit www.BluegreenVacations.com.

BBX Capital Corporation Contact Info:Investor Relations: Leo Hinkley, Managing Director, Investor Relations Officer954-940-5300, Email: LHinkley@BBXCapital.com

Media Contact:Maxine McBride, 904-280-7960 or maxine@clockworkmarketing.com

This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements and include, but not limited to, words or phrases such as "plans," "believes," "will," "expects," "anticipates," "intends," "estimates," "our view," "we see," "would" and words and phrases of similar import. We can give no assurance that such expectations will prove to be correct. Future results could differ materially as a result of a variety of risks and uncertainties, many of which are outside of the control of management. These risks and uncertainties include, but are not limited to the impact of economic, competitive and other factors affecting the Company; risks relating to the Company's ability to successfully implement its currently anticipated business plans, which may not be realized as anticipated, if at all; that the Company's investments in real estate developments, either directly or through joint ventures, will increase exposure to downturns in the real estate and housing markets and expose it to risks associated with real estate development activities and the risk that its joint venture partners may not fulfill their obligations; that required regulatory entitlements to develop the property will not be obtained timely or at all; that the property will not be developed as currently planned or priced as currently anticipated, and that the Company's investment in this or future real estate developments and/or joint ventures may not achieve the returns anticipated or be profitable. In addition to the risks and factors identified above, reference is also made to other risks and uncertainties described in BBX Capital’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, and its Annual Report on Form 10-K for the year ended December 31, 2017, which is available to view on the SEC's website, www.sec.gov, or on BBX Capital's website, www.BBXCapital.com. The Company cautions that the foregoing factors are not exclusive.

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