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San Francisco-based Building Materials Holding Corp. (BMHC) announced that its wholly owned subsidiary, BMC West, has completed the sale of real estate used by its former building materials distribution operation in Aspen, Colo., to the City of Aspen. The sale price was $18.25 million.
The deal, which closed on Dec. 17, completes BMHC’s previously announced strategic sale of three retail-oriented business units in western Colorado. The company, which provides residential construction services and building materials, said it will continue to focus on professional builders and contractors and to emphasize value-added products and services.
In conjunction with the sale, BMHC will recognize a gain of approximately $10 million for the fourth quarter of 2007.
“We continue to evaluate all of our facilities to determine if they provide the right mix of professionally-oriented products and services to drive long-term growth,” said Robert Mellor, BMHC chairman, president and CEO.
BMHC had sold its property in Austin, Texas, earlier in 2007.