DealsJun 26, 2026, 04:37 PM
Universal Logistics Sells Kearny Property for $38M, Acquires Passaic Ventures
AI Summary
Universal Logistics Holdings, Inc. (ULH) subsidiary UTSI Finance, Inc. completed a transaction involving the sale of a real property facility in Kearny, New Jersey, for $38.0 million in cash. Concurrently, UTSI acquired all outstanding membership interests of Passaic Ventures LLC, which owns a property in Newark, New Jersey, from Lakeshore Ventures LLC. Lakeshore Ventures is affiliated with ULH's Chairman and a Director, and the deal was approved by disinterested board members.
Key Highlights
- UTSI Finance, Inc. (ULH subsidiary) sold a Kearny, New Jersey property to Lakeshore Ventures LLC.
- Received $38.0 million in cash consideration for the Kearny property.
- Acquired 100% of membership interests in Passaic Ventures LLC from Lakeshore Ventures LLC.
- Passaic Ventures LLC owns a real property facility located in Newark, New Jersey.
- Lakeshore Ventures LLC is affiliated with ULH's Chairman and a Director.
- Transactions were approved by disinterested members of ULH's Board, including the Audit Committee.
Price Impact
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