PHOENIX -- Universal Technical Institute Inc. (UTI), a provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, has announced its completion of a sale and leaseback transaction for its campus located in Sacramento, CA.

Under the terms of the transaction, which closed on July 18, UTI assigned its interest in its long-term ground lease and sold its newly constructed campus facilities to a subsidiary of W. P. Carey & Co. for approximately $41 million. Concurrent with the sale transaction, UTI entered into a long-term lease with the purchaser to lease back the campus facilities for an initial term of 15 years with the option to extend the lease for up to an additional 20 years. The transaction will not impact UTI's operations or course offerings at the Sacramento campus. UTI said the inflow of cash will enhance the company's cash position and improve liquidity. The company does not expect any significant gain or loss on the transaction.

"Favorable conditions in the commercial real estate market led us to capitalize on the equity in our Sacramento facility," said Kimberly McWaters, president and chief executive officer of UTI. "The proceeds received from this transaction will provide our organization with greater flexibility and liquidity."

For more about UTI, visit: http://www.uticorp.com.