BBX Capital Real Estate is buying a half interest in The Altman Cos. development company as a first step in a full takeover.

BBX Capital Real Estate, a division of publicly traded BBX Capital Corp. based in Fort Lauderdale, is paying $22.7 million for 50 percent of Altman Cos., the Boca Raton-based multifamily developer that also has built condominiums and townhouses. This deal is set to close by year’s end.

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