W. P. Carey expands in Texas

Buys manufacturer's properties

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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. ...