EAST TEXAS (KTRE) - Prime East Texas and Deep East Texas timberland, originally owned by the famed Temple-Inland, has sold a second time.
CatchMark Trust Incorporated has agreed to pay $1.3 billion dollars for the 1.1 million acres of timberlands.
The seller is Campbell Global, the institutional owners that bought it from Temple in 2007.
CatchMark leads a joint venture with a consortium of institutional investors.
Transactions of this kind are significant, but typical to the industry says Texas Forestry Association Executive Director Rob Hughes. He expects the timberland will be managed much the same way as it has before.
"Part of the contract with the fiber supply agreement is that it stays in a sustainable management fashion, so it's under the SFI Program, sustainable forestry initiative, and it will be required to stay that way," Hughes explained.
Longterm saw timber and pulpwood supply agreements are with Georgia-Pacific and International Paper.