Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/fnk2v7x2. Bill Greehey, 86, served as the chairman of NuStar and Valero L.P . San Antonio Business Journal Truist Bank has paid $103 million, or about $343.33/sf, for the headquarters of NuStar Energy LP in San Antonio. facility that is also much more reliable and profitable. Our commitment to making a difference not only ensures that NuStar continues to provide our communities with safe, reliable and affordable access to fuels, but also ensures that we continue to support our employees and build value for our investors. While the last few years have tested our industry more than any other time in recent history, our excellent sustainability performance demonstrates the strength of our assets and resiliency of our company to meet future energy challenges. NuStar Energy posts highest fourth-quarter profit in company history NuStar Energy has sold its North Sideheadquarters toTruist Financial Corp.for $103 million, but the oil pipeline and terminal operator is not moving. This press release includes, and the related conference call will include, forward-looking statements regarding future events and expectations, such as NuStars future performance, plans and expenditures. NuStar purchased the refinery and terminal out of The following is the reconciliation for the calculation of our Consolidated Debt Coverage Ratio, as defined in our revolving credit agreement (the Revolving Credit Agreement). 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. The partnerships combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. region and other U.S. shale plays, where NuStar already has extensive $145,000 per year. NuStar Energy L.P. Declares First Quarter 2023 Common Unit Distribution The agreement restricts future developments on a 6-acre portion on the southern edge of the lot as long as NuStar or any NuStar affiliate operates there. Base in San Antonio that includes a state-of-the-art laboratory. forward-looking statements are based on the partnership's beliefs as 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. And Houston-based natural gas company Tellurian is selling land in Louisiana as part of a $1 billion lease back, the outlet reported. Brad Barron, president and CEO of NuStar Energy, speaks in 2019 during the company's annual meeting at its San Antonio headquarters. SAN ANTONIO--(BUSINESS WIRE)--Apr 27, 2023--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. NuStar Energy Employee Reviews in San Antonio, TX The proceeds from this transaction will strengthen our balance sheet and go toward our continued efforts to improve our financial strength and flexibility, NuStar said in a statement. Our Guiding Principles are the foundation of everything we do: how we treat each other, the environment, our communities, our customers and business partners. with the margin-based refining business in order to further grow its View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005881/en/, Investors, Pam Schmidt, Vice President, Investor Relations addition to safety and reliability improvements, NuStar also has This redemption is another important step in our ongoing optimization and will meaningfully increase our cash flow over the next few years.. 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. Mary Rose Brown, Senior Vice President,Administration: 210-918-2314maryrose.brown@nustarenergy.comWeb Guide to Getting Your First Job. Our adjusted EBITDA for full-year 2022 was $722 million, compared to 2021 adjusted EBITDA of $705 million. About NuStar - NuStar Energy Corporate Sustainability Report 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. commercial and retail customers and the U.S. military. NuStar Energy is a leading pipeline and terminal operator based in San Antonio, TX. Gear advertisements and other marketing efforts towards your interests. 730 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. Expert Career Advice. As we stated when we announced our intent to sell the refinery, it was NuStar Energy - Wikipedia 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. Austin-based Capital Commercial Investments bought 290 acres at ExxonMobils Irving headquarters late last year in a sale-leaseback deal in December. San Antonio pipeline operator NuStar Energy posted a gain of more than $200 million in 2018 after undergoing a major restructuring, the company said Thursday. More >> "NuStar's earnings grew in third quarter, despite drop in shale production", "Inter Pipeline announces the acquisition of European bulk liquid storage business", "NuStar receives the first shipment of long-haul Permian Crude at Corpus Christi terminal", "Plans To Build New Petrochemical Tanks In Rodeo Face Pushback Following NuStar Fire", https://en.wikipedia.org/w/index.php?title=NuStar_Energy&oldid=1084603172, This page was last edited on 25 April 2022, at 13:59. 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). NuStar Executive Vice President and Chief Financial Officer Tom Shoaf gave a positive update on the companys continued progress in reducing its debt and building its financial strength and flexibility. partnership. A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/fnk2v7x2. Adjusted net income / adjusted net income per common unit, Net income / net income (loss) per common unit. In South Texas, we are pleased that our Corpus Christi Crude System throughputs averaged over 368,000 BPD in the fourth quarter of 2022, which is above our minimum volume commitments for the system and eight percent higher than volumes in the third quarter of 2022. In 2019, we formed an ESG Task Force to focus on sustainability reporting and build upon our best practices. The conference call may also be accessed through the Investors section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. NuStar Energy L.P. Declares First Quarter 2023 Common Unit Distribution All forward-looking statements are based on NuStars beliefs as well as assumptions made by and information currently available to NuStar. Subscribe to CREDirect and our Weekly Newsletter! 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. NuStar Energy careers in San Antonio, TX | Indeed.com in the Caribbean, the United Kingdom and Turkey. These high energy density liquid fuels are used in the vehicles that get us where we need to go, whether that is commuting to work, shopping for groceries, taking our children to school or flying on an airplane to visit family and friends. In addition, our West Coast regions revenues continue to grow, as revenues were up around 20 percent compared to the fourth quarter of 2021 and around 10 percent year-over-year, driven in large part by our West Coast renewable fuels strategy, said Barron. This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d) and 1.1446(f). The Charlotte, N.C., bank acquired the 300,000-square-foot building from the San Antonio-based energy logistics company, which has agreed to lease it back. DCF is a financial indicator used by the master limited partnership (MLP) investment community to compare partnership performance. refinery produces and sells various products, including jet fuels, pipeline and storage operations. This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d) and 1.1446(f). For more information, Privacy Policy and Investor Relations: 210-918-INVR (4687) [4], In 2019 NuStar received the first shipment of long haul Permian Crude at Corpus Christi terminal. It has been working to reduce. The partnerships combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. $17.99 per hour. the crude oil that is processed at the refinery. The adjusted distribution coverage ratio was 2.02 times for full-year 2022. NuStar Energy invests millions in San Antonio refinery In addition, we expect to spend between $25 and $35 million on reliability this year.. Operations are managed by NuStar GP, LLC. NuStar also retained 13 acres of the property. NuStar Energy L.P. is headquartered in San Antonio, Texas and is one of the largest independent liquids terminal and pipeline operators in the nation, responsibly storing and distributing renewable fuels, ammonia, refined products, crude oil and other liquids. 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. 100% of the distribution is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). site: http://www.nustarenergy.com. Take care of yourself, others and the environment. Read our editorial policy to learn more about our process. NuStar Energy Agrees to Sell Its San Antonio Refinery and Related Reconciliation of Non-GAAP Financial Information, (Unaudited, Thousands of Dollars, Except Ratio Data). 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. And Houston-based natural gas company Tellurian is selling land in Louisiana as part of a $1 billion lease back, the outlet reported. NuStar Energy L.P. Declares First Quarter 2023 Common Unit Distribution Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. NuStar Energy L.P. (NYSE: NS) announced today that it has entered into a NuStar owns 8,700 miles of pipeline and 79 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids.[2]. NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable . Anastasio. employees received significant increases in their compensation and Nustar said it expects full-year profits of $202 million to $240 million, compared with $222 million for all of 2022. visit NuStar Energy L.P.'s Web site at www.nustarenergy.com. 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. Whether for powering rescue vehicles for first responders to save lives, transporting us to and from our daily errands or delivering food and packages quickly, our society depends on liquid fuels, and NuStar is proud to have been connecting people with that energy, safely and sustainably, for more than 20 years. Copyright NuStar Energy L.P. All Rights Reserved. The deal was made to monetize a real estate asset that hasnt been yielding lucrative returns, and NuStar will pay off some of its outstanding debt with the $103 million, a company spokesperson told the outlet. Furthermore, our employees have made a positive difference in the communities where NuStar has operations by donating their time and resources to countless worthy causes. crude oil, refined products and specialty liquids; a fuels refinery with NuStar will use proceeds from the Markets Brief: 10th Straight Fed Rate Hike on Tap. Make sure people know what they need to know and when they need to know it. NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable . SAN ANTONIO -- (BUSINESS WIRE)--Mar. NuStar currently has 8,573 miles of pipeline; 87 terminal and storage facilities that store and distribute crude oil, refined products and . The board of directors has elected Brad Barron, president and CEO, as the new chairman. Nustar Energy. We plan to continue to optimize our business and build our financial strength and unitholder value, while we continue to safely and reliably store and transport the essential energy that fuels our lives, Barron concluded. NuStar Energy LP . 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. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/fnk2v7x2. 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. For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. Other notable companies have exercised land sale or leaseback maneuvers recently. San Antonio Business Journal Truist Bank has paid $103 million, or about $343.33/sf, for the headquarters of NuStar Energy LP in San Antonio. 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. 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. Calumet is committed to safety excellence, as well as continued DCF is used by the MLP investment community, in part, because the value of a partnership unit is partially based on its yield, and its yield is based on the cash distributions a partnership can pay its unitholders. In addition, our board of directors uses EBITDA, DCF and a distribution coverage ratio, which is calculated based on DCF, as some of the factors in its compensation determinations. While we are proud of those honors and awards, we are even prouder of the work we do every day: safely and reliably supplying the energy that fuels modern life, contributing to our communities in the markets we serve and building value for our unitholders. Madison Iszler covers real estate, retail, economic development, and other business topics for the San Antonio Express-News. These statements reflect NuStars current views with respect to future events and are subject to various risks, uncertainties and assumptions. You can help Wikipedia by expanding it. They are the reason that the best is yet to come for NuStar! Suzanne Wade, former president of H-E-B San Antonio's Food and Drug Division, was. with respect to future events and are subject to various risks, position for a refinery because it limits resources and available It closed the year with debt of $3.3 billion. For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. Corporate Communications: 210-918-2314 / 210-410-8926, NuStar Energy L.P. Reports Strong Fourth Quarter and Full-Year 2022 Earnings Results, Copyright NuStar Energy L.P. All Rights Reserved, https://edge.media-server.com/mmc/p/bgpdnpyj, https://register.vevent.com/register/BI757a142163514824bfe28118ca3c0731, https://www.businesswire.com/news/home/20230131006184/en/.
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