Valdosta Daily Times

Local News

November 2, 2013

Big Clinch land transaction

More than 21,000 acres sold by Rayonier

--- — Conservation Forestry, LLC, a timber investment management organization, or TIMO, purchased more than 21,000 acres recently in Clinch County from Rayonier. The land, named as the “Fargo tract” by Rayonier, is adjacent to the Okefenokee National Wildlife Refuge.

The closing date for the transaction, according to Rayonier, was Oct. 24.

A spokesperson for the company, Russell Schweiss, declined to disclose the sale price of the land, saying that as a public company, the size of the transaction did not rise to the level subject to disclosure rules.

However, according to the Georgia real estate search engine, qpublic, the land sold on Aug. 4 for $217,082,433 as part of a multiple parcel sale from Rayonier Forest Resources to Timberland Holding Company Atlantic Inc. By examining the various parcels provided on a map from Rayonier and comparing it to the qpublic parcel map, the land’s tax value is approximately $660 per acre, and unless the sale price also included other parcels outside the Fargo tract, the sale price is approximately $9,700 per acre.

Schweiss said Rayonier was pleased that the land would stay as working forest land with active timber operations while also preserving the wildlife habitat.

In a press release, the company states that the Fargo tract plays a significant role in one of the largest contiguous wildlife corridors east of the Mississippi River, with 27 miles abutting the wildlife refuge and six miles of frontage on the Suwanee River.

Schweiss said Conservation Forestry, LLC holds title to the land through a related LLC, but it’s unclear if that LLC is the Timberland Holding Company listed as the tract’s current owners.

Although this was a large transaction, Schweiss said Rayonier still holds around 700,000 acres in Georgia and the Fargo tract is just a small portion of a 167,000 acre tract that the company initially purchased.

The company owns 2.4 million acres of timber and land in the United States.

Rayonier is structured as a real estate investment trust, or REIT, with timber operations in Fernandina Beach, Fla. and Jesup, Ga., among others.

Conservation Forestry LLC is an investment organization that specializes in “aligning private equity with conservation capital for the purpose of acquiring and managing large forest landscapes,” according to the release.

1
Text Only
Local News
  • doug henderson.jpg Memorial tourney returns

    The Doug Henderson III Memorial Golf Tournament has raised thousands of dollars for scholarship funds and to help organizations throughout the region.

    April 20, 2014 1 Photo

  • 041914-WA-Egghunt021.jpg Park puts wild spin on Easter tradition

    Adventurous egg hunters braved overcast skies and a persistent drizzle to search for hidden prizes Saturday during Wild Adventure’s first Ostrich Egg Hunt.

    April 20, 2014 1 Photo

  • FallenTree003.JPG More spills reported

    City of Valdosta employees have spent the weekend responding to spills caused by several inches of rain that have again drenched the city during the past few days.

    April 20, 2014 1 Photo

  • Underwater Easter_Rich copy.jpg Stories behind ‘The Greatest Story Ever Told’

    Christ comes from the Greek word, “Christos,” meaning “the anointed one.”

    April 19, 2014 1 Photo

  • 140418_valwood001.jpg Valwood students register to vote

    Valwood teaches its students about the importance of voting. Each year, the school has encouraged eligible seniors to register to vote and participate in local elections.

    April 19, 2014 1 Photo

  • wadebrandon14.jpg Police still seeking missing mother, son

    Though their assignments have changed during the past dozen years, Valdosta Police Capt. Bobbi McGraw and Sgt. Chris Crews continue working the case of a missing mother and her son.

    April 19, 2014 3 Photos

  • 041814-TreeDownonRobinHood.jpg Minor flooding expected

    Minor flooding of the Withlacoochee River is expected this weekend thanks to the day-long rains across South Georgia Friday, according to the National Weather Service.

    April 19, 2014 1 Photo

  • 041814-TreeDownonRobinHood.jpg Wastewater hazards assessed

    During heavy rain events, five to 15 manholes throughout the city are at risk of overflowing into local waterways, according to the City of Valdosta.

    April 19, 2014 1 Photo

  • 140418-VSU_HSBA003.jpg Valdosta State cuts ribbon for health, business building

    Eighteen months after breaking ground on the project, Valdosta State University held the official ribbon cutting Friday for its Health Sciences and Business Administration Building.

    April 19, 2014 1 Photo

  • 140417-Rail_Plan-001.jpg State Transportation seeks public input on rail plan

    The Georgia Department of Transportation held public meetings across the state this week to discuss its 2014 Georgia State Rail Plan.

    April 18, 2014 1 Photo

Top News
Poll

Given the amount of rain recently, what's your favorite “rain” song?

Singing in the Rain
Purple Rain
Have You Ever Seen the Rain?
November Rain
Rainy Night in Georgia
Other
     View Results