TransMontaigne Partners LLC has closed the $180 million sale of its Fisher Island terminal facility in Miami, Florida, which has about 700,000 barrels of active storage capacity for marine fuels.
The buyer was not disclosed.
Under the terms of the deal, TransMontaigne has leased the terminal from the buyer, allowing it to continue operations and service existing customer agreements.
Proceeds from the sale were used to repay certain term debt obligations, the company said.
The Fisher Island terminal forms part of TransMontaigne’s U.S. network of storage and logistics assets spanning the Gulf Coast, Midwest, Pacific Northwest, and West Coast.
Denver-based TransMontaigne provides terminaling, storage, and transportation services for customers involved in the distribution and marketing of bulk liquids, including marine fuels.
