Florida's BankAtlantic Bancorp has a deal to buy one of the nation's oldest homebuilders for $21 million in cash.

BankAtlantic Development Corp., a subsidiary of the Fort Lauderdale-based thrift, will buy Levitt Corp. of Florida, which is building houses in Port St. Lucie, Orlando, Boynton Beach, Palm Beach County, Naples, and Penbroke Pines.

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