EAST TEXAS – A huge chunk of East Texas is changing hands in one of the largest such transactions in a decade.
CatchMark Timber Trust Inc. has agreed to pay almost $1.4 billion for the 1.1 million acres of timberland.
The timberlands are located near top-quartile mills and within approximately 100 miles of three of the top five U.S. homebuilding markets: Austin, Dallas, and Houston, according to CatchMark
The purchase works out to $1,264 per acre, before transaction costs.
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