BlueLinx netted $27.2 million in sale/leaseback deals for its distribution centers in Kansas City and St. Louis, Mo.; Nashville, Tn.; and Richmond, Va.
The transactions allow BlueLinx proceeds to pay down debt, will continuing to lease the facilities for at least the next 18 years.
“Deleveraging is a priority, and a key path to achieving this objective has been through the successful monetization of our owned real estate portfolio,” noted Mitch Lewis, president and CEO. “We remain in active and ongoing discussions with other sale-leaseback and outright sale opportunities, and believe these efforts should generate additional meaningful debt reduction in the first quarter.”