ATLANTA--(BUSINESS WIRE)--Timbervest, LLC, an Atlanta-based company that manages timber-related assets and investments, today announced it sold more than 10,000 acres of timberland assets in Florida, South Carolina and Vermont from its Timbervest Partners I (TVP I) investment fund. The combined value of the three transactions totaled more than $14.2 million. Following the sales, the $230 million, vintage 2005 TVP I fund continues to own and manage high quality timberlands located throughout the country and its investor base consists of both institutional and high-net-worth investors.
“We are excited to complete these transactions,” said Bill Boden, managing partner of Timbervest. “Each property’s unique environmental characteristics and timber attributes made them highly attractive assets. At this stage of the TVP I fund, we are actively evaluating other sales opportunities.”
Florida Property
Timbervest sold approximately 6,710 acres in Lafayette County to an institutional, environmentally-themed investment entity. Since 2006, the fund has owned this environmentally-sensitive asset, which also possesses recreational appeal given its proximity to the Suwannee River Water Conservation District. The buyer purchased the critically located tract because of its attractive characteristics, proximity to nearby public lands and future timber harvesting opportunities.
South Carolina Property
After owning the property for nearly nine years, Timbervest sold 2,416 acres in Kershaw County to a timberland investment group. The tract’s location, wood product mix and recreational appeal made this an attractive property.
Vermont Property
Purchased by the fund in 2006, the 1,243-acre unit in Washington County was sold as a long-term investment to a high-net-worth investor because of its inventory of high value hardwood species and excellent accessibility and location. The property exhibits future high-end recreational appeal based on the area’s demographics and contains a growing inventory of premium hardwood timber.
About Timbervest
Founded in 1995, Atlanta-based Timbervest currently manages more than 600,000 acres of timberland, timber-related assets and other real estate investments with a market value in excess of $1.4 billion. The company’s timberland 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.
