[2] We are also encouraged by the continued improvement we saw in January on that system, as our average volumes rose to almost 400,000 BPD last month.. Unlock in-depth property data and market insights by signing up to CommercialEdge . employees, the company moved all non-operating personnel out of the NuStar will continue to operate within a 300,000-square-foot space at the site, paying roughly $8.2 million a year in rent for the initial 20-year term of the leaseback agreement. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. Expect the best from yourself and from each other. gas (LPG), specialty solvents and other highly specialized fuels, to San Antonio first responders received the two calls within moments of each other Friday evening. Adjusted distribution coverage ratio is calculated by dividing adjusted DCF by distributions applicable to common limited partners. Not only is this pipeline reducing traffic and cutting transportation Privacy Policy and Basis Industrial has paid $33 million, or about $14725/sf, for a portfolio of three properties with 224,108 square feet in Tampa, Fla Marcus & Millichap brokered the deal for the seller, which was not identified JLL arranged acquisition REBusinessOnline KeyBank Real Estate Capital has provided $33 million of Fannie Mae financing for the purchase of the 200-unit Meadow Creek Apartments in Bridgeport, W Va Sevenstone Capital arranged the fixed-rate loan on behalf of the buyer, which Minneapolis/St Paul Business Journal An affiliate of Black Swan Living has paid $269 million, or $208,527/unit, for Residence at Discovery Square, a 129-unit apartment property in Rochester, Minn The local company purchased the property from Vance Houston Business Journal Hines has plans to build a mixed-use project as part of The Domain development in Austin, Texas The Houston developer last June bought the La Quinta Inn and Suites that sits on 43 acres at 11901 North MoPac Expressway, with Dallas Business Journal Cold Summit Development has filed plans with the Texas Department of Licensing and Regulation to build a 356,222-square-foot refrigerated storage facility in Lancaster, Texas, about 16 miles south of Dallas The Ketchum, Dallas Morning News The Dallas City Council has approved the construction of a 615-unit affordable-housing property about 15 minutes from the citys downtown The four-story property, which is being called Park at Northpoint, will go up at 9999 Dallas Morning News Crow Holdings will start construction in June on a nearly 800,000-square-foot distribution building in the Dallas suburb of Lancaster, Texas The industrial property will be built on Wintergreen Road, south of Interstate 20 Dallas Morning News Work has started on Oxenfree, a rental community with 408 single-family homes and townhomes in Princeton, Texas, about 44 miles northeast of Dallas Core Spaces, a residential developer with offices in Chicago and Austin, Texas, Commercial Property Executive Virtus Real Estate Capital has paid $485 million, or $69286/sf, for Banner Health Center Plus at The Grove, a 70,000-square-foot medical-office building in Phoenix The Austin, Texas, investment manager purchased the Commercial Real Estate Direct Staff Report Boeing Employees Credit Union has provided $25 million of financing to facilitate the purchase of the 131-unit Caesars Luxury Apartments in Tacoma, Wash A local investor group purchased the property for Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. Earnings per unit (EPU) for the fourth quarter of 2022 also included a $0.31 per unit premium related to the repurchase of a portion of the Series D preferred units. NuStar Energy L.P. (NYSE: NS) announced today that it has entered into a 27, 2023-- Nominees, and not NuStar Energy L.P., are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors. Senior Operator. The first quarter common unit distribution will be paid on May 12, 2023 to holders of record as of May 8, 2023. NuStar Energy L.P. is a publicly traded master limited partnership. NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. The Elmendorf The first quarter common unit distribution will be paid on May 12, 2023 to holders of record as of May 8, 2023. NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. Barron also noted that operating income and EBITDA in NuStars Fuels Marketing Segment were $12 million in the fourth quarter of 2022, a $7 million increase compared to the fourth quarter of 2021, largely due to stronger margins. In 2019, we formed an ESG Task Force to focus on sustainability reporting and build upon our best practices. NuStar Energy salaries in San Antonio, TX. NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. Distribution coverage ratio is calculated by dividing DCF by distributions applicable to common limited partners. Other notable companies have exercised land sale or leaseback maneuvers recently. Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer, Nustar said it expects full-year profits of $202 million to $240 million, compared with $222 million for all of 2022. forward-looking statements are based on the partnership's beliefs as This Sustainability Report continues to highlight our performance and is informed by guidance from the Energy Infrastructure Council (EIC) and the Sustainability Accounting Standards Board (SASB). Which Will Outperform: U.S. Stocks or International? The NuStar Energy L.P. board of directors elected its newest member, a former top-level H-E-B LP executive. refining assets with Lindsay Goldberg that essentially makes the San needs to succeed over the long-term, Anastasio added. It has been working to reduce. two asphalt refineries with a combined throughput capacity of 104,000 of the key reasons we chose Calumets bid is because they are well-known Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/fnk2v7x2. NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. US LBM Holdings Opens Manufacturing Facility in Auburndale, Fla. Rockefeller Group Breaks Ground on 147,000-SF Industrial Project in Piscataway, N.J. Virtus Buys Phoenix Medical-Office Building for $48.5Mln. The conference call may also be accessed through the "Investors" section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005881/en/, Investors, Pam Schmidt, Vice President, Investor Relations And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. This is a carousel. NuStar opened its headquarters in 2012. NuStar's lease is for 20 years, but it can be [] partnership. region and other U.S. shale plays, where NuStar already has extensive pipeline and storage operations. Accordingly, all of NuStar Energy L.P.s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals and corporations, as applicable. Our Guiding Principles are the foundation of everything we do: how we treat each other, the environment, our communities, our customers and business partners. Management believes these financial measures provide useful information to investors and other external users of our financial information because (i) they provide additional information about the operating performance of the partnerships assets and the cash the business is generating, (ii) investors and other external users of our financial statements benefit from having access to the same financial measures being utilized by management and our board of directors when making financial, operational, compensation and planning decisions and (iii) they highlight the impact of significant transactions. Expert Career Advice. This site is protected by reCAPTCHA and the Google The following is a reconciliation of projected net income to EBITDA. He also noted that NuStars Mid-Continent refined product systems once again delivered solid, dependable revenue contribution in the fourth quarter of 2022. NuStar Energy L.P.s Board of Directors also declared a first quarter 2023 Series A preferred unit distribution of $0.73169 per unit, a Series B preferred unit distribution of $0.66150 per unit and a Series C preferred unit distribution of $0.73881 per unit. These risks, uncertainties and 730 Shoaf also gave full-year guidance for net income and EBITDA, as well as strategic capital and reliability capital for 2023. [1]The Environmental Partnership is comprised of companies in the U.S. oil and natural gas industry committed to continuously improve the industrys environmental performance. NuStar Energy L.P. Cautionary Statement Regarding Forward-Looking Statements. NuStar currently has 8,708 miles of pipeline and 81 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/fnk2v7x2. Markets Brief: 10th Straight Fed Rate Hike on Tap. Excluding the effects of these items, adjusted net income was $75 million for the fourth quarter of 2022, or $0.34 per unit, compared to adjusted net income of $52 million, or $0.14 per unit, for the fourth quarter of 2021. NuStar Energy has sold its North Sideheadquarters toTruist Financial Corp.for $103 million, but the oil pipeline and terminal operator is not moving. a throughput capacity of 14,500 barrels per day; and 50% ownership in NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. $17.99 per hour. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. NuStar . NuStar Energy Agrees to Sell Its San Antonio Refinery and Related Assets to Calumet Specialty Products Partners, L.P. The company moved into its 319,000-square-foot headquarters off Interstate 10 north of The Rim shopping in 2012. NuStar Energy, L.P., San AntonioInvestors, Chris Russell, Vice The following is a reconciliation of DCF to adjusted DCF and adjusted distribution coverage ratio. NuStar Energy has invested millions of dollars to transform a refinery in San Antonio once owned by AGE Refining. with respect to future events and are subject to various risks, Persons interested in Q&A participation may pre-register for the conference call and obtain a dial-in number and passcode at https://register.vevent.com/register/BI3c790e56797c443d95909ed3a22b5f52. Highest Fourth Quarter Net Income and Adjusted EBITDA in Company History, Permian Crude System Volumes Hit Record-Breaking Average of 584,000 Barrels Per Day/13 Percent Above 4Q 2021, Operations Performing Well Across all Systems, Fuels Marketing Segment Up Almost $23 Million Year-Over-Year. [5], On 15 October 2019, the Nustar Fire, a 15-acre wildfire, was caused by an explosion of two ethanol storage tanks at NuStar's Crockett, California, fuel depot.[6][7]. The partnership's combined system has approximately 93 million barrels of storage capacity, and NuStar has operations in the United States, Canada, Mexico, the Netherlands, including Sint Eustatius in the Caribbean, and the United Kingdom. In this climate of high interest rates and with some capital markets still not accessible to (master limited partnerships), this provides us with a less costly method of generating capital compared to other financing techniques and demonstrates our commitment to being good stewards of our resources, NuStar said. These adjustments represent the pro forma effects of the dispositions of the Point Tupper terminal, which was sold in April 2022, and the Eastern U.S. terminals, which were sold in October 2021. The company will rent the real estate from an affiliate of Charlotte,N.C.,-based Truist in a transaction known as a sale-leaseback and use the proceeds to pay off outstanding debt. NuStar, whose CEO is Brad Barron, has the option to extend its lease through two additional 10-year periods until March 2063. well as assumptions made by and information currently available to the At NuStar Energy L.P., we firmly believe that if you take care of the employees, they will take care of the company, its customers, investors and communities. For any questions regarding our Sustainability Report and performance, please contact NuStar atSustainability@NuStarEnergy.com. Browse the open positions at NuStar Energy, and apply online. View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006184/en/, Investors, Pam Schmidt, Vice President, Investor Relations To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/bgpdnpyj. service a 12-mile pipeline between the terminal and the refinery that Corporate Communications: 210-918-2314, View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005881/en/. The partnerships combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. Accordingly, all of NuStar Energy L.P.s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals and corporations, as applicable. Copyright NuStar Energy L.P. All Rights Reserved. President,Investor Relations: 210-918-3057chris.russell@nustarenergy.comorMedia, Home > Truist Buys NuStar Energys San Antonio HQ for $103Mln. Barron continued, Our adjusted EBITDA was $197 million for the fourth quarter of 2022, which is the highest fourth quarter adjusted EBITDA in our companys history. The Charlotte, N.C., bank acquired the Truist Buys NuStar Energys San Antonio HQ for $103Mln, KeyBank Lends $33Mln for Purchase of Bridgeport, W.Va., Apartments, Hines to Bring Mixed-Use Project to The Domain in Austin, Texas. In addition, we expect to spend between $25 and $35 million on reliability this year.. NuStar had a profit of $92 million in the three months through December $75 million after adjustments for one-time items and its Permian pipeline system handled record volumes of 584,000 barrels per day. December 31, 2023. The following are reconciliations of net income / net income (loss) per common unit to adjusted net income / adjusted net income per common unit. As of December 31, 2021, NuStar had 1,267 employees and operated, primarily in the United States, approximately 9,935 miles of pipeline and 64 terminal and storage facilities with a combined system comprising roughly 57 million barrels of storage capacity. Mary Rose Brown, Senior Vice President,Administration: 210-918-2314maryrose.brown@nustarenergy.comWeb its strategic redirection away from the earnings volatility associated A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/fnk2v7x2. The following is a reconciliation of EBITDA to adjusted EBITDA. [3], In 2018 Inter Pipeline acquired NuStar Energy L.P.'s European bulk liquid storage business ("NuStar Europe") for cash consideration of US$270 million. SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) today announced that its Board of Directors has declared a first quarter 2023 common unit distribution of $0.40 per unit.The first . However, excluding the non-cash charges and insurance proceeds, as well as the EPU impact from the repurchase of a portion of the Series D preferred units in the fourth quarter of 2022, our full-year 2022 adjusted net income was $250 million, or $0.92 per unit, compared to 2021 adjusted net income of $212 million, or $0.60 per unit, said Barron. We have also been awarded the International Liquid Terminals Associations (ILTA) Safety Excellence Award 12 times. The following is a reconciliation of net income to EBITDA, DCF and distribution coverage ratio. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. 100% of the distribution is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii).
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