Million BBX Trade Dollars Used To Purchase $8.3 Million Resort
Australia’s BBX Holding Ltd. (BBX) announced their successfully
completed sale of The Apollo Country Resort at Wamberal, New South
Wales. The hotel, restaurant, and convention center is located on
five prime acres only minutes from Crown Plaza Terrigal Beach.
The contract price of $8.3 million included $2 million BBX trade
dollars, with the balance paid in cash. The resulting transaction
fees of $440,000 for a single transaction is an Australian record,
according to their news release. The company completed $10 million
in real estate sales in February.
BBX has $83 million in real estate offerings for members.
Additionally, it plans an IPO (initial public offering) of the BBX
Property Investment Fund Ltd., which has $130 million in Australian
and New Zealand real estate.