Mr. Barag has a track record and substantial experience in both the timberland and commercial real estate industries and brings over 30 years of real estate and timberland investment experience, including expertise in acquisitions, divestitures, asset management, property management and financing.
Mr. Rasor has over 45 years of experience in the timberland and forest products industries, including expertise in forest management, wood products manufacturing, fiber procurement and log merchandising, sales and distribution. Messrs. Barag and Rasor were also elected as directors following the closing of CatchMark Timber's underwritten public offering.
Additionally, CatchMark Timber's Board of Directors recently made several modifications to the composition of the Board which collectively enhance its independence.
The Board of Directors elected Willis J. Potts, an independent director, to serve as chairman of the Board. The size of the Board was also increased from five to seven, and the Board appointed two new independent directors, Alan D. Gold and Douglas D. Rubenstein.
Since 2004, Mr. Gold has served as chairman of the Board and CEO of BioMed Realty Trust, Inc., a publicly traded REIT focused on acquiring, developing and managing laboratory and office space for the life science industry. Prior to that, Mr. Gold worked with REITs and real estate companies since 1985. Mr. Rubenstein has been an investment banker since 1985 and has extensive experience in the real estate industry.
Since June 2012, Mr. Rubenstein has served as senior vice president and director of capital markets and business strategy for Benjamin F. Edwards & Company, a private, full-service broker-dealer. Leo F. Wells III and Douglas P. Williams, who are affiliated with CatchMark Timber's former external advisor, resigned from the board prior to the effectiveness of CatchMark Timber's underwritten public offering.
CatchMark Timber Trust, Inc. is a self-administered and self-managed publicly traded REIT that began operations in 2006 and owns interests in approximately 280,000 acres of timberland located on the Lower Piedmont and Upper Coastal Plains of East Central Alabama and West Central Georgia. CatchMark Timber owns approximately 247,200 acres and leases approximately 32,800 additional acres from third parties. The company is focused exclusively on timberland ownership and management.
