BlueLinx completes Indiana sale-leaseback deal
BlueLinx Holdings Inc. reported that it has has completed a sale-leaseback transaction for its distribution facilities in Elkhart, Ind.
Cash proceeds for the sale that transaction that closed on Feb. 28 are $7.5 million, which will be used to pay debt under the building products distributor’s term loan. BlueLinx has entered into a lease agreement for the property for an initial term of 15 years, with multiple renewal options.
Following the payment, BlueLinx’s term loan is approximately $77.4 million, the company reported.
Net proceeds from the sale-leaseback transaction were used to repay indebtedness under the Company’s term loan. Following this repayment, the balance of the Company’s term loan was approximately $77.4 million.
BlueLinx services approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers in 40 states.
Cash proceeds for the sale that transaction that closed on Feb. 28 are $7.5 million, which will be used to pay debt under the building products distributor’s term loan. BlueLinx has entered into a lease agreement for the property for an initial term of 15 years, with multiple renewal options.
Following the payment, BlueLinx’s term loan is approximately $77.4 million, the company reported.Net proceeds from the sale-leaseback transaction were used to repay indebtedness under the Company’s term loan. Following this repayment, the balance of the Company’s term loan was approximately $77.4 million.
BlueLinx will provide an update on its sale-leaseback transactions during its earnings call on March 11. Sales-leaseback transactions have been part of the Marietta, Ga.-based company’s strategy for the past two years.
BlueLinx services approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers in 40 states.