143,000 acres

[JABIII]

Tuesday, Mar. 03, 2009

Land deal valued at $275 million



Columbia-based American Timberlands Fund I, LP bought 143,000 acres of property in the Southeast from International Paper in a deal valued at $275 million, the companies announced Monday.

International Paper will sell about 114,000 acres to the partnership for $220 million and will swap 29,000 acres, worth $55 million, in exchange for a 20 percent interest in American Timberlands.

The deal is contingent upon American Timberlands raising $220 million to finance the sale.

[SPUR]

Thats a pretty tall contingency in these economic times. I wish buyer and seller the best of luck!

[Carlisle]

http://www.americantimberlands.com/

I have not heard of them before. Interesting site.

I liked the info on timberland investments outperforming the S&P. My first thought was that they were in it for the long term timber and conservation of these properties. Upon a closer look it looks like development is also a large part of their model.

[SCTIMBER]

CEO used to work for GP in NC. I saw a while back they were handling some company land tracts up my way, didn't know they jumped whole hog in the investment business though.