JACKSON, Miss.--(BUSINESS WIRE)--The Molpus Woodlands Group, LLC (Molpus), a timberland investment management organization (TIMO) headquartered in Jackson, Mississippi, has announced today, on behalf of a client, the successful purchase of approximately 130,659 acres in New York for approximately $57,500,000.
Located in St. Lawrence, Clinton, Franklin and Lewis Counties in the north-central part of upstate New York, the property is almost entirely within the boundaries of New York’s Adirondack Park. The property has historically been in timber production and consists mostly of northern hardwoods. Additionally, the property is certified under the Sustainable Forestry Initiative®.
“Molpus is pleased to expand its existing operations in upstate New York,” said Ken Sewell, Chief Operating Officer of Molpus Timberlands Management. “This is a high-quality property supporting a diversity of northern hardwoods that fits well with our client’s investment objectives. We look forward to managing it under the existing conservation easements and continuing the sustainable forestry practices that have been historically demonstrated on this property.”
This acquisition increases Molpus’s total assets under management to more than $1.5 billion with a total acreage of approximately 1,600,000. Molpus currently maintains an office in Saranac Lake, New York, to oversee the management of approximately 30,000 acres previously purchased in this area.
The Molpus Woodlands Group, LLC, a Registered Investment Advisor, was founded in 1996 as a Timber Investment Management Organization (TIMO) and has a company legacy dating to 1905. With its sister operating company, Molpus Timberlands Management, LLC (collectively, Molpus), Molpus is one of the oldest timber-related companies in the nation, with experience in all facets of timber management, manufacturing, and marketing. Molpus is one of the few TIMOs that has all of its core businesses and forestry functions handled or supervised by in-house experts.
Molpus acquires, manages, and sells timberland as an investment vehicle for pension funds, college endowments, foundations, insurance companies, and high-net-worth individual investors. The company focuses on ensuring long-term optimal cash returns on investments while practicing responsible forest stewardship. Molpus currently manages approximately 1.6 million acres of timberland investments located in seventeen states. For more information, visit http://www.molpus.com/.