News Desk, Timberland

Rayonier to Acquire 95,100 Acres in Southeast

Jacksonville-based timber REIT Rayonier announced that it has entered into three separate transactions with different sellers in Florida, Georgia, and South Carolina to acquire approximately 95,100 acres of high-quality industrial timberlands. The aggregate purchase price will be $217 million ($2,280 per acre), which will be financed with cash on hand. The acquisitions are located in some of the strongest timber markets in the Southeast along the Interstate 95 corridor near Savannah.
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