An undisclosed buyer bought the Fisher Island terminal in Florida for $180 million, which stores marine fuel and has a capacity of 700,000 bbl. (Source: TransMontaigne Partners)
Two wholly-owned subsidiaries of TransMontaigne Partners LLC have agreed to the sale of terminal facilities in Florida and Virginia totaling approximately $210 million, TransMontaigne announced on Jan. 22.
An undisclosed buyer bought the Fisher Island terminal in Florida for $180 million, which stores marine fuel and has a capacity of 700,000 bbl. The sale is expected to close on May 15, upon which TransMontaigne will lease the terminal from the buyer to continue to service its current customer agreements.
The Fairfax terminal in Virginia sold for approximately $30.75 million to an undisclosed buyer. The terminal has a capacity of about 500,000 bbl for the storage of gasoline, diesel, ethanol and fuel additives. The deal is expected to close on June 30.
Proceeds from the sales will be used to repay certain debt obligations.
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