RenX Enterprises Corp. (NASDAQ: RENX) announced its subsidiary and a joint venture partner will sell the 7.7-acre Norman Berry property in East Point, Georgia, for $2.6 million. Approximately $800,000 of the proceeds will be used to repay two notes held by RenX against the property, including accrued interest, while the remaining $1.8 million will be split under joint venture terms.
RenX’s share of the transaction is expected to total roughly $900,000, reflecting its 50% interest in the joint venture. The company plans to allocate its portion of the capital toward operations and the expansion of its 80-acre permitted organics processing facility in Myakka City, Florida.
The agreement, effective as of August 17, 2026, is contingent on several conditions, including the purchaser’s satisfactory due diligence, securing state program allocations for the intended development, and obtaining financing. The purchaser has committed to making earnest money deposits under the terms of the deal. Closing remains subject to completion of these conditions, and there is no guarantee the transaction will finalize as described.
RenX Chief Executive Officer David Villarreal stated the sale aligns with the company’s strategy to monetize non-core assets, reduce debt, and reinvest in core operations. The transaction follows the company’s broader focus on strengthening its balance sheet while advancing its Myakka City facility buildout.
The purchaser is a Florida-based real estate development company. The Norman Berry property sale is not expected to impact RenX’s ongoing organics processing operations at the Myakka City site.
