International Paper announced on March 2 that it plans to sell off 143,000 acres in the Southeastern US in a transaction valued at approximately $275 million.
IP will sell 114,000 acres to American Timberlands Fund I, L.P., for $220 million in cash and contribute 29,000 acres with a value of $55 million for a 20 percent stake in the partnership. The transaction is expected to close in mid-June.
News Desk, Timberland
- March 9, 2009
IP to Divest 143,000 Acres in Southeast
RELATED ARTICLES
Farmland
Bidding Heats Up for Australian Cattle Kingdom
Australia’s wealthiest citizen, Gina Rinehart, and a Chinese …
News Desk
Sold! Manhattan Hedge Fund Acquires 11,000 Acres from Rayonier in Two Tranches for $39.8 Million
First Coast Land and Timber has purchased more …
Sponsored
Elk Creek Ranch Acquires Seven Lakes
For those who are passionate about outdoor pursuits, the next great adventure can’t come soon enough.
Please sign me up to receive breaking news and updates from The Land Report:
