1.1M acres sold in East Texas timberland deal1.1M acres sold in East Texas timberland dealhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201912018-05-29T05:00:00Z2018-05-29T20:00:00Z

A view of a two-lane road curving out into the distance through the Piney Woods.​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.
Dallas News
https://www.dallasnews.com/business/real-estate/2018/05/16/timber-huge-chunk-east-texas-sells-almost-14-billionRead more at the {Source}

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