Rayonier Inc. announced that the company has entered into two separate agreements to acquire approximately 172,400 acres of high-quality commercial timberlands located in Texas, Georgia, Alabama, and Louisiana for an aggregate purchase price of approximately $474 million from Manulife Investment Management, a leading timberland investment manager.<\/p>\n
The acquisitions comprise well-stocked and highly productive timberlands located in some of the strongest timber markets in the U.S. South. Approximately 80% of the acquisitions consist of fee ownership, and the remaining 20% consist of a long-term lease.<\/p>\n
The acquisitions are located across four of the strongest U.S. South timber markets.<\/p>\n
Based on the strong productivity, stocking, and age-class profile of the acquired fee lands, combined with the expected harvest from the leased lands, the acquisitions are expected to generate an average annual harvest volume of approximately 860,000 tons over the next 10 years.<\/p>","protected":false},"excerpt":{"rendered":"