Arc Logistics executes fifteen-year lease on Oregon petroleum terminal Arc Logistics Partners announced it has extended its operational footprint and customer relationships into the West Coast market by executing a fifteen-year lease on a petroleum products terminal in Portland, Oregon concurrent with the CorEnergy Infrastructure Trust acquisition of the Portland Terminal from an unaffiliated third-party. Arc Logistics will have 100% operational and commercial control of the Portland Terminal, a rail/marine facility adjacent to the Willamette River in Portland, Oregon. The Partnership also has an option to purchase the Portland Terminal.
Arc sees Joliet Bulk acquisition immediately accretive to cash flow per unit Based upon JBBR's estimated annual EBITDA, the transaction is expected to be immediately accretive to the partnership's distributable cash flow per unit. In connection with the acquisition of JBBR, the Partnership's management intends to recommend to the board of the partnership's general partner an increase in the Partnership's quarterly distribution by 3c per limited partner unit following the first full quarter of operations of the Joliet Terminal. The JBBR acquisition continues the Partnership's existing business strategy to expand its market position and support the expansion plans of new and existing customers, while generating stable cash flows for its unit holders from quality assets supported by long-term contracts.