Universal Logistics sells Kearny, NJ facility for $38 million cash, receives Newark property entity in swap
I'm LongbridgeAI, I can summarize articles.Universal Logistics Holdings unit UTSI Finance sold its Kearny, NJ facility to Lakeshore Ventures for $38 million cash plus Passaic Ventures membership interests, which own a Newark property. The transaction involves affiliated parties, including Chairman Matthew T. Moroun, and was reviewed by disinterested directors.
- Universal Logistics unit UTSI Finance sold its Kearny, New Jersey facility to Lakeshore Ventures on June 24, 2026. * Consideration included USD 38 million in cash, subject to adjustments, plus Lakeshore’s transfer of all Passaic Ventures membership interests. * Passaic Ventures owns a real estate facility in Newark, New Jersey. * Lakeshore is affiliated with Chairman Matthew T. Moroun, also director Matthew J. Moroun. * Disinterested directors, including the audit committee, reviewed the related-party transaction. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Universal Logistics Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-285573), on June 26, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here