Rayonier (RYN) to Acquire Timberlands in U.S. South Markets
Timber REIT, Rayonier Inc. is expanding its presence through timberlands acquisitions in the U.S. South coastal Atlantic markets.
Particularly, the company has entered into three transactions with separate sellers for the purchase of around 95,100 acres of industrial timberlands situated in Florida, Georgia and South Carolina. The total purchase price of these timberlands is around $217 million.
The timberlands are situated in the top three U.S. South timber markets based on average composite stumpage price by region and serve a varied customer base, including multiple pulpwood, grade and export customers.