Rayonier (RYN) Acquires 172K Acres in US South for $474M
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Rayonier Announces Acquisitions in U.S. South
November 2, 2022 4:45 PM EDTWILDLIGHT, Fla.--(BUSINESS WIRE)-- Rayonier Inc. (NYSE: RYN) announced today that the company has entered into two separate agreements to acquire approximately 172,400 acres of high-quality commercial timberlands located in Texas, Georgia, Alabama, and Louisiana (the Acquisitions) for an aggregate purchase price of approximately $474 million from Manulife Investment Management, a leading timberland investment manager. The Acquisitions comprise well-stocked and highly productive timberlands located in some of the strongest timber markets in the U.S. South. Approximately 80% of the Acquisitions consist of fee ownership, and the remaining 20% consist of a long-term lease.
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