Nov. 1, 2017 - CatchMark Timber Trust, Inc. has acquired 14,923 acres of prime timberlands near the southeast coast of Georgia for $43.3 million, excluding closing costs.
The timberlands in Long and McIntosh counties, the Coastal Georgia Acquisition, expand CatchMark's positioning in one of the most competitive wood baskets of the U.S. South, increasing its regional holdings by 36 per cent.
The acquisition includes 72 per cent pine plantations with stocking of 81 tons per acre. Approximately 92 per cent of the inventory volume is pine and 65 per cent of the inventory volume is chip-n-saw or sawtimber with an average pine plantation age of 19 years.
The transaction's harvest productivity is expected to be 7.6 tons per acre per year, adding approximately 110,000 tons per year to CatchMark's harvest over the next decade. The transaction includes a favorable long-term supply agreement and the timberlands' location provides proximity to a significant number of local mill customers, enhancing the merchantability of CatchMark's harvests in the region.
CatchMark funded the acquisition with net proceeds from its recently-closed public equity offering.
CatchMark Timber Trust, Inc. is a self-administered and self-managed, publicly-traded REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests and well-timed sales. Headquartered in Atlanta and focused exclusively on timberland ownership, CatchMark began operations in 2007 and owns interests in approximately 502,600 acres* of timberland located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas. For more information, visit www.catchmark.com.
Timberland ownership company CatchMark closes $43.3M acquisition
Alliance of First Nations and non-First Nations respond to Toronto Star forestry op-edFeb. 20, 2018 - In a February 12th, 2018 Toronto…
Northland strong: Fort McMurray mill upgrades and expandsFeb. 20, 2018 - Northland Forest Products is a family-owned…
Strengthening the Canadian forest sector with Forestry 4.0Feb. 20, 2018 - Supply chains have evolved significantly in…
West Fraser announces 2017 annual and fourth quarter resultsFeb. 20, 2018 - West Fraser has announced its 2017…
OFIA's 75th annual meeting
February 28, 2018
Globe Forum Vancouver
March 14-16, 2018
International Mass Timber Conference
March 20-22, 2018