The Land Report


The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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Page 92 of 99

debt facility taken out on the timberlands, created a liquid- ity situation that the recession made worse. e timberlands were on the market for years but struggled to nd a buyer willing to work within the constraints of the wood-supply agreements. "(It was) just the poor tim- ing on the purchase," Andrew Junkin of Wilshire Consulting told the CalPERS investment committee in 2018. "You can't know in advance that the mar- ket is going to collapse." CatchMark purchased the property with a consortium of partners. e new owner- ship entity is called Triple T Timberlands. American Forest Management and For- est Resource Consultants are performing accounting and land management functions, respectively, as they do at other CatchMark-owned properties. "e timberlands are located near top-quartile mills and within approximately 100 miles of three of the top ve US homebuilding markets: Austin, Dallas, and Houston," CatchMark said in a statement. "ese markets provide strong, growing, and compelling demand fundamentals." — Cary Estes $1,264 PER ACRE The 1.1-million-acre asset benefits from close proximity to three major housing markets: Austin, Dallas, and Houston. THE CATALYST Carl Icahn urged the previous sale of the timberlands in 2007. You can't know in advance that the market is going to collapse. ANDREW JUNKIN, WILSHIRE CONSULTING Timberland Sale CH I P E AST / R EUTERS 91 L AN D R E P O RT.CO M SPRING 20 19 | e LandReport

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