ATLANTA--(BUSINESS WIRE)--Timbervest LLC, an Atlanta-based company that manages timber-related assets and investments, today announced it acquired 13,220 acres of timberland for its Timbervest Partners III, LP (TVP III) investment fund. The $400 million commingled fund consists of 250,000 acres of timberland located throughout the country, and is comprised of institutional and high-net-worth investors.
“The acquisitions of these diverse properties provide significant value for our clients and serve as strong additions to our existing portfolio,” said Bill Boden, managing partner of Timbervest. “The purchases highlight the continued growth of the fund and our unmatched commitment to identify compelling timberland investments that benefit investors.”
Effingham, Georgia Property
The approximately 2,550 acres of industrial grade timberland in southeast Georgia is located 30 miles northwest of the Port of Savannah and 15 miles north of Interstate 16. Accessible by county roads, the Effingham property is a large contiguous tract that is predominantly merchantable pine plantations with flat terrain and little elevation change. A portion of the wood fiber harvested from the property will possibly be exported to Europe as wood pellets.
The Effingham property also has the potential to be sold, in part or in whole, into the high-value recreational and residential markets. The acquisition brings TVP III’s ownership of Georgia timberland to approximately 30,000 acres.
Tennessee Select Property
Located 80 miles from Nashville in northwest Tennessee, the 9,400-acre property consists mostly of mixed hardwoods and loblolly pine plantations. Comprised of 20 non-contiguous parcels of institutional grade timberlands, the property’s diverse terrain includes hill country and some steep elevations with beautiful viewsheds of Kentucky Lake.
Additionally, Tennessee Select has the potential for higher and better use in the rural, recreational market. Following the acquisition, TVP III’s ownership of Tennessee timberland is more than 13,500 acres.
Green Acres, Vermont Property
The east central Vermont property is approximately 1,270 acres of mixed hardwood timberland, and consists of three non-contiguous tracts. The property is 20 miles from Montpelier in an area that is heavily forested and scattered with small family farms. Green Acres’ high quality hardwoods are a result of the strong forest management practices used by previous owners. The tracts include flat terrain and gently rolling hills, and are accessible by paved frontage roads on portions of the property. Additionally, a well-maintained internal road infrastructure allows for easy access to most areas.
The potential value-add of this property is maple syrup production and the sale of all or portions of Green Acres in the rural residential market. The purchase brings TVP III’s Vermont holdings to approximately 14,220 acres.
About Timbervest
Founded in 1995, Atlanta-based Timbervest currently manages more than 600,000 acres of timberland, timber-related assets and investments with a market value in excess of $1.2 billion. The company’s portfolio assets are located in most major timber regions of the United States, including the Northeast, Southeast, Appalachian, West Gulf and Pacific Northwest. For more information about Timbervest and its investment funds, visit www.timbervest.net.
