$2 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.