The 2020 Mid-Year Economic Update_long

BlueLinx Closes Sale-Leaseback Transaction

Building material distributor BlueLinx Holdings Inc. on Monday said it has completed the sale-leaseback transaction for a Denver distribution facility for $10.6 million.
BlueLinx Holdings

Building material distributor BlueLinx Holdings Inc. (NYSE: BXC), Marietta, Georgia, on Monday announced that it has completed a sale-leaseback transaction for its owned distribution facility in Denver, Colorado, for $10.6 million.

The transaction closed on Aug. 14, and as a part of the transaction, the company entered into a lease agreement for the property with multiple renewal options, demonstrating its long-term commitment to this local market.

Net proceeds from the sale-leaseback transaction were used to repay indebtedness under the company’s term loan.

“I am very pleased to announce the closing of this latest sale-leaseback transaction, which generated meaningful net cash proceeds for debt repayment,” said Mitch Lewis, President and CEO. “We remain in active and ongoing discussions on other opportunities to monetize our owned real estate portfolio as we continue to aggressively pursue our deleveraging strategy.”

Related Posts

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.