TransMontaigne Partners LLC ("TransMontaigne") announced the signing of agreements to divest its terminal facilities in Fisher Island, Miami, and Fairfax, Virginia.
The Fisher Island terminal, boasting an active capacity of approximately 700,000 barrels for marine fuels, is slated for sale at an estimated price of $180 million. The transaction is expected to close on or around May 15, 2025, subject to customary closing conditions. Following the sale, TransMontaigne will lease back the terminal to ensure uninterrupted service for its existing customer base.
The Fairfax terminal, with an active capacity of approximately 500,000 barrels for storing gasoline, diesel, ethanol, and fuel additives, is expected to fetch approximately $30.75 million. The closing of this sale is anticipated to occur on or around June 30, 2026, subject to certain conditions and the possibility of an extended closing date.
Proceeds from both terminal sales will be utilized to repay certain outstanding term debt obligations.
TransMontaigne Partners LLC is an integrated energy company headquartered in Denver, Colorado. The company provides comprehensive terminal, storage, transportation, and related services for customers engaged in the distribution and marketing of bulk liquids across various locations throughout the United States.