ATLANTA--(BUSINESS WIRE)--Timbervest LLC, an Atlanta-based company that manages timber-related assets and investments, today announced it sold nearly 20,000 acres of timberland assets in Georgia and Pennsylvania from its Timbervest Partners I (TVP I) investment fund. The combined value of the two transactions totaled $33.9 million. Following the sales, the $231 million, vintage 2005 TVP I fund continues to own and manage high quality timberlands located throughout the country with an investor base consisting of both institutional and high-net-worth investors.
“We are excited to be able to take advantage of strengthening markets to sell certain properties and complete these high-value transactions,” said Bill Boden, managing partner of Timbervest. “Each property contained high quality timberland, which provided consistent cash flow and excellent wood harvesting opportunities. We are currently evaluating other sales and purchases for our funds and matching investors with profitable investment opportunities.”
Timbervest sold approximately 18,500 acres in Stewart County to an institutional timberland investment group. Located on rolling terrain in Southwest Georgia, the property had been efficiently managed for more than seven years by TVP I as a core timberland investment and its superior wood product mix was an attractive characteristic to the buyer.
Purchased by the fund in 2007, the 1,134 acres in Franklin and Green counties were managed to provide ongoing cash flow from harvesting operations. Due to the tract’s proximity to Michaux State Park, its aesthetics were improved for sale into the higher value recreational property market. The sale was completed at a recreational price point for a conservation-themed institutional investor and demonstrated the validity of the fund’s investment thesis.
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.