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CorEnergy Infrastructure Trust Inc. has reached an agreement to acquire a petroleum products terminal facility in Portland, Ore., for $40 million in cash. The transaction is expected to close in late January.The rail/marine facility will be leased to an Arc Logistics Partners L.P. subsidiary under a long-term arrangement.The Portland Terminal Facility is adjacent to the Willamette River and has a total storage capacity of 1.46 million barrels. The multi-modal terminal offers rail, truck and shipping access points.After the transaction closes, CorEnergy plans to fund $10 million worth of terminal-related improvements to help optimize the facility, such as enhancing terminal infrastructure and expanding throughput.
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