CatchMark Completes $100 Million Sale of Oregon Timberlands to Roseburg Resources Co.
ATLANTA (News release) -- CatchMark Timber Trust, Inc. announced that it had completed the sale of 18,063 acres of prime Oregon timberlands - known as the Bandon property - for $100 million in cash, or approximately $5,536 per acre, to Roseburg Resources Co. The property had been purchased in August 2018 for $88.8 million or $4,916 per acre.
AFM Real Estate acted as CatchMark's broker for the transaction. About CatchMark CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 1.5 million acres* of timberlands located in Alabama, Georgia, Oregon, South Carolina and Texas. For more information, visit www.catchmark.com.
About Roseburg Founded in 1936, Roseburg Forest Products is a privately-owned company and one of North America's leading producers of particleboard, medium density fiberboard and thermally fused laminates. Roseburg also manufactures softwood and hardwood plywood, lumber, LVL and I-joists. The company owns and sustainably manages more than 600,000 acres of timberland in Oregon, North Carolina and Virginia, as well as an export wood chip terminal facility in Coos Bay, Ore. Roseburg products are shipped throughout North America and the Pacific Rim. To learn more about the company please visit www.roseburg.com. About American Forest Management American Forest Management offers a suite of services including land and habitat management, timberland inventory and sales, environmental practices and technical services. AFM Real Estate, as subsidiary, offers real estate acquisition and disposition services. Headquartered in Charlotte, N.C., American Forest Management serves clients across the country with 50+ regional offices and oversees more than 6 million acres of land. For over fifty years, it has been the industry's leading company, coordinating land transactions valued at over $3.2 billion.
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