Timberland Investment
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MeadWestvaco sells nearly 5,400 acres of East Edisto tract

MeadWestvaco sells nearly 5,400 acres of East Edisto tract | Timberland Investment | Scoop.it

A large chunk of MeadWestvaco's massive 72,000-acre East Edisto tract will go to conservation.

The paper giant recently sold 5,359 acres, or about 7 percent, of the sprawling property, near County Line Road in southwestern Charleston County to Cantusee Timberlands LLC for $14.25 million.

The buyer of the property near the Edisto River is affiliated with Conservation Forestry, a New Hampshire-based timberland investment firm.

Conservation Forestry is headed by John Tomlin, whose company harvests trees for profit while permanently protecting surrounding forests from development.

It works by pooling money with a nonprofit such as the Nature Conservancy to buy large wooded tracts. Conservation Forestry may put up 75 percent of the purchase price for the right to harvest timber and the Nature Conservancy puts up the rest and receives a conservation easement that ensures the forest will forever remain a forest.

The arrangement ensures a steady return for investors, the state retains its property tax base and the public gets wildlife and open space.
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MeadWestvaco placed a restriction on the property before it was sold that limits any development to low density, according to Ken Seeger, the company's president of community development and land management.

Sam Radcliffe's insight:

At $2,659 per acre this property must be exceedingly well stocked...

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Timbervest purchases nearly 4,000 acres in Pittsylvania County

Timbervest purchases nearly 4,000 acres in Pittsylvania County | Timberland Investment | Scoop.it

MWV Land Sales Inc., which owns timber land in Pittsylvania County, has sold nearly 4,000 acres of forest land in the county to a timber investment company in Atlanta.


The company sold nine tracts totaling 3,969.87 acres to Timbervest Partners III Virginia LLC for $5.79 million.

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Plum Creek Timber to acquire land from MeadWestvaco for $1.09B

  • Plum Creek Timber (PCLwill acquire 501K acres of timberlands in Alabama, Georgia, South Carolina, Virgina, and West Virginia for $869M and rural and development-quality lands near Charleston, South Carolina, for $152M from MeadWeastvaco (MWV). The deal also includes $65M for subsurface rights and wind-power assets on the timberlands.
  • In conjunction, the 2 companies formed a joint venture to develop the South Carolina lands.
  • The majority of the proceeds will be distributed to MeadWestvaco shareholders.
  • Plum Creek announced it intends to finance the acquisition by offering 14.1M shares (2.115M overallotment) in a follow-on. The sale would be good for proceeds of $700M at today's close.
  • MeadWestvaco PR, Plum Creek Timber PR
Sam Radcliffe's insight:

The last of the vertically integrated paper companies finally gives it up. The reported purchase price for timberlands is $1,734 per acre.

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