BBX Capital Real Estate Announces Joint Venture Agreement With New Urban Communities

BBX Capital Real Estate, a division of BBX Capital Corporation (NYSE: BBX),
announced today it has entered into a joint venture agreement with New Urban
Communities to develop the Village at Victoria Park. 


The Village at Victoria Park, located near downtown Fort Lauderdale, Florida, in
the highly desirable Victoria Park neighborhood, will be built on a 2.3 acre
parcel previously a part of the original BankAtlantic headquarters site. The
community will consist of 30 highly amenitized two story cluster homes with
private courtyards. Both Santa Barbara and Bermuda architectural styles will be
offered. Homes will have 3-4 bedrooms, as well as two car garages, ten foot
ceilings, impact glass, gourmet island kitchens, and open floor plans. Optional
features will include plunge pools and summer kitchens. The Village at Victoria
Park, a gated community, is close to shopping, restaurants, the beach, Las Olas
and downtown Fort Lauderdale. 


"We are pleased to partner with New Urban Communities on a one of a kind project
in east Fort Lauderdale," commented Mr. Seth M. Wise, the President of BBX
Capital Real Estate, a division of BBX Capital. 


The project is a 50%-50% joint venture, with New Urban Communities, BBX
Capital's joint venture partner, serving as the developer and manager. BBX
Capital sold the land to the joint venture for $3.6 million in cash. Development
and Construction financing is being provided by Seacoast National Bank.


The Village of Victoria Park is currently scheduled to commence construction and
sales in the second quarter of 2014. Closings are anticipated to begin by the
third quarter of 2015. For further information or to join the waiting list,
please call New Urban Communities at 954-524-8001.


About BBX Capital Corporation:   
BBX Capital, a New York Stock Exchange listed company (NYSE: BBX), is involved
in the acquisition, ownership and management of, and joint ventures and
investments in real estate and real estate development projects as well as
investments and management of middle market operating businesses. In addition,
BBX Capital and its holding company, BFC Financial Corporation, have a 46% and
54% respective interest in Bluegreen Corporation; a vacation ownership company
with more than 60 owned or managed resorts, 225,000 owners and 5,000 employees. 


As of December 31, 2013, BBX Capital had consolidated total assets of $431.1
million, shareholders' equity of $302.4 million, and its book value per share
was $19.00. For more information, visit www.BBXCapital.com


About BFC Financial Corporation: 
BFC (OTCQB: BFCF) is a holding company whose principal holdings include a 52%
ownership interest in BBX Capital Corporation (NYSE: BBX) and a 54% indirect
ownership interest in Bluegreen Corporation. As of December 31, 2013, BFC had
total consolidated assets of approximately $1.4 billion, shareholders' equity
attributable to BFC of approximately $239.4 million, and total consolidated
equity of approximately $422.4 million. For more information, visit
www.BFCFinancial.com. 


About New Urban Communities: 
New Urban Communities was founded in 1998 by Tim Hernandez and Kevin Rickard.
The company specializes in urban infill and redevelopment and is well known for
pioneering communities in Delray Beach, Wilton Manors, Fort Lauderdale, Jupiter
and Miramar. New Urban synthesizes the techniques of custom and production home
building with timeless principles of community design to deliver high quality,
high value homes and neighborhoods while respecting and engaging existing
natural and built environments. Walkability, lush landscaping and classic
architecture with porches and balconies are hallmarks of New Urban's
neighborhoods. New Urban was years ahead of the competition in building green
homes and communities close to where its customers work and play. More
information on how New Urban is changing the way people live in South Florida,
one community at a time, is available at www.newurbancommunities.com.


For further BBX Capital information, please visit our family of companies:
BBX Capital: www.BBXCapital.com
Bluegreen Corp.: www.BluegreenVacations.com
Renin Corp.: www.ReninCorp.com
Hoffman's Chocolates: www.Hoffmans.com, www.BocaBons.com, and www.GoodFortunes.com
Williams & Bennett: www.WilliamsandBennett.com
BFC Financial Corp.: www.BFCFinancial.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 are 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. Future results could differ materially as a
result of a variety of risks and uncertainties, including that the development
will not be constructed as contemplated, in the time frame anticipated, or at
all, and that the Company's anticipated investments in real estate joint
ventures may not achieve the returns anticipated or may not be profitable. In
addition to the risks and factors identified above, reference is also made to
other risks and factors impacting BBX Capital detailed in the Annual Report on
Form 10-K, including Item 1A. Risk Factors, 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. 



FOR FURTHER INFORMATION PLEASE CONTACT: 

BBX Capital Contact Info:
Investor Relations: 
Leo Hinkley
Managing Director, Investor Relations Officer
954- 940-5300 
Email: InvestorRelations@BBXCapital.com

Media contact: 
Caren Berg
Boardroom Communications
(954) 370-8999 
Email: cberg@boardroompr.com
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