BlueLinx Holdings announced the company has paid off the remaining principal on its 2006 CMBS mortgage of approximately $98M. The payment was funded through long-term sale leaseback transactions on four properties owned by the company, which provided $110M in aggregate sale proceeds. The company will operate these locations under long-term leases, and after the transaction, the company will continue to own 33 facilities in the United States.
BlueLinx has completed the sale of its non-operating facility in Allentown, Pennsylvania. The company has also sold its Fort Worth, Texas and Miami, Florida distribution facilities while simultaneously entering into leases with the new owners of the two respective facilities. BlueLinx intends to continue to use both facilities to serve its customers in the Dallas-Fort Worth and South Florida areas and surrounding markets. With these property sales and all others incurred since April 2016, BlueLinx will fully satisfy its July 2017 CMBS mortgage payment obligation of $60M three months ahead of schedule.