W. P. Carey expands in Texas

Investment firm W. P. Carey & Co. LLC has acquired the corporate headquarters and three industrial facilities of UTEX Industries Inc. in Houston, Texas.

The value of the transaction was approximately $14.7 million.

UTEX, a designer and manufacturer of sealing products, will use the proceeds from the sale-leaseback to strengthen its balance sheet and support growth initiatives.

The total square footage of the properties was not disclosed.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.