BlueLinx has sold its non-operational facility in Wausau, Wis., which will generate $1.1 million in net proceeds for the company, BlueLinx announced today in a press release.
BlueLinx has been selling non-operating facilities as part of its deleveraging strategy. In 2016, the company sold eight facilities. With the conclusion of the Wausau sale, BlueLinx has generated $34.1 million net proceeds from selling its real estate holdings. According to the press release, BlueLinx is negotiating the sales of other facilities, but did not disclose their locations.
By selling its non-operational facilities, BlueLinx estimates that the proceeds “will cumulatively pay off more than $60 million of its mortgage balance in the second quarter of 2017 since extending earlier in 2016.”
