The company also acquired approximately 4,600 acres located in Florida and Georgia in the 2Q 2015 through a series of small transactions with non-industrial private landowners. Year-to-date, Rayonier has acquired 35,000 acres of high quality timberland in the U.S. South and Pacific Northwest for a total of approximately $88 million.
“We are pleased to close these two acquisitions with BTG Pactual Timberland Investment Group,” said David Nunes, Rayonier President and CEO. “The properties have been well-managed and are high-quality assets located in strong timber markets. These transactions reflect our disciplined growth strategy to focus on select acquisitions that upgrade our land portfolio, grow our sustainable harvest and generate accretion to our cash available for distribution per share.”
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.