Timbervest LLC acquired 13,220 acres of timberland in Georgia, Tennessee and Vermont. The Atlanta-based timber-related asset and investment manager said the land will be part of its $400 million commingled Timbervest Partners III LP investment fund (TVP III).
Some 2,550 acres of the acquired land is industrial grade timberland in Effingham, Ga. The company said a portion of the wood fiber harvested from the property will possibly be exported to Europe as wood pellets. The acquisition brings TVP III’s ownership of Georgia timberland to nearly 30,000 acres.
An additional 9,400 acres of the acquired land is in northwest Tennessee. The acquisition brings TVP III’s ownership of Tennessee timberland to more than 13,500 acres. The remaining 1,270 acres of acquired property is in Green Acres, Vt. The acquisition brings TVP III’s Vermont timberland ownership to nearly 14,220 acres.
Timbervest currently manages more than 600,000 acres of timberland, timber-related assets and investments with a market value of more than $1.2 billion.
From the Atlanta Business Chronicle: https://www.bizjournals.com/atlanta/news/2014/09/16/timbervest-adds-timberland-in-georgia.html