CatchMark Timber is purchasing 36,340 acres of timberland in Southeast Georgia and East Texas for approximately $74 million (PRNewswire).
The project is known as Waycross-Panola properties, as the Georgia timberland is in Baxter (Waycross) and the East Texas timberland is in Panola.
The Waycross properties have an estimated 50% higher than average inventory growth rate than average U.S. South timberlands.
Between the East Texas properties and the Georgia properties, they are expected to add approximately 180,000 to 200,000 tons per year to CatchMark's harvest volumes over the next decade.
CatchMark currently owns interests in approximately 278,100 acres of Timberland throughout Georgia and Alabama.
To learn more about CatchMark, please click HERE.