BankAtlantic's Commercial Lending Group Announces $29 Million Closing in Orange County, Florida.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--Feb. 7, 2002 BankAtlantic, a subsidiary of BankAtlantic Bancorp (NYSE NYSE See: New York Stock Exchange :BBX BBX Business Basic Extended BBX Business Barter Exchange BBX Blue Bell, Pennsylvania (Airport Code) BBX Blockbuster Express (UK video store) ), today announced that it recently completed a $29,310,000 real estate loan with Alafaya Trail Rentals, Inc. The transaction will finance construction of Wisper Palm Apartments, which is located on the west side of Alafaya Trail in unincorporated Orange County, in the city of Orlando. Wisper Palm Apartments will be located on 22.4 acres and will consist of 308 rental apartment units. The borrower is affiliated with a long-term customer of BankAtlantic, Jennings Construction Corp., which is headquartered in Palm Beach Gardens. "Orange County is one of the fastest developing areas in Florida and we are delighted to be a part of its success and growth," stated William Corso, Senior Vice President of BankAtlantic's Commercial Lending Division. About BankAtlantic: BankAtlantic, "Florida's Most Convenient Bank", is one of the largest financial institutions headquartered in Florida and provides a comprehensive offering of banking services and products via its broad network of community branches throughout Florida and its online banking division -- BankAtlantic.com. BankAtlantic is also in the process of completing its pending acquisition and merger with Community Savings Bankshares (Nasdaq:CMSV CMSV Collgeg of Mount Saint Vincent (Riverdale, NY) ). BankAtlantic Bancorp (NYSE:BBX) is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services holding company and the parent company of BankAtlantic, Levitt Corporation and Ryan, Beck & Co. Through its subsidiaries, BankAtlantic Bancorp provides a full line of products and services encompassing consumer and commercial banking, brokerage and investment banking, and real estate development.
For further information, please visit our websites:
www.BankAtlantic.com www.LevittandSons.com
www.CoreCommunities.com www.StLucieWest.com
www.LevittCommercial.com www.RyanBeck.com
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