May 29, 2018
1.1M acres sold in East Texas timberland deal
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...
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.
The land is in multiple locations, mostly south of a line stretching from Tyler to Longview.
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