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
  • Jim Zachary Mug shot.jpg Zachary named The Valdosta Daily Times’ editor

    Veteran newspaper editor Jim Zachary has assumed the editor’s chair at The Valdosta Daily Times.
    During the past two decades Zachary has been one of the most decorated community newspaper journalists in Georgia and Tennessee.

    July 29, 2014 1 Photo

  • 140728-griner001.jpg Griner takes oath

     Surrounded by family, friends, and fellow commissioners, Clay Griner took the oath of office Monday morning as the Lowndes County Super District 5 commissioner.

    July 29, 2014 1 Photo

  • 140728-man_hunt001.jpg Dump truck thieves sought

    Authorities continued searching for suspects Monday evening connected to a stolen dump truck involved in a chase with law-enforcement.

    July 29, 2014 1 Photo

  • City workers strike natural gas main

    A gas leak evacuated a neighborhood Monday when workers struck a natural gas main.

    July 29, 2014

  • education.jpg Desegregation status approved

    Forty-three years after an initial lawsuit was filed to force the system to desegregate, Valdosta City Schools has officially been approved for “unitary status.”

    July 29, 2014 1 Photo

  • ARociewilliams_002.jpg Woman shares nearly a century of lessons

    With nearly 100 years of life under her belt, Ocie Viola Williams has plenty of advice to share with the world. Her top two pieces of advice: know the importance of education and don’t expect a teacher to raise your child for you. 

    July 28, 2014 1 Photo

  • psst1 photo page copy.jpg PSST! finishes peachy season

    Peach State Summer Theatre concluded its 2014 season Sunday, a season which broke attendance records for the professional musical theatre company.

    July 28, 2014 1 Photo

  • DSC_2381.jpeg Award-winning young professionals share success secrets

    The Valdosta-Lowndes Chamber’s MetroOne Young Professionals hosted a panel discussion on Tuesday at the Hilton Garden Inn to highlight successful business practices.

    July 27, 2014 1 Photo

  • 140726_summerlibrary002.jpg Library celebrates end of summer reading program

    With the first day of school just around the corner, students are soaking in the last few weeks of summer vacation. The end of summer also means the end of the South Georgia Regional Library’s 2014 summer reading program.

    July 27, 2014 1 Photo

  • artseason1 copy.jpg A sneak peek at some area arts organizations’ 2014-15 seasons

    Beethoven. Tennessee Williams. Non-stop art. Two versions of “The Wizard of Oz.” The 2014-15 arts season is coming.

    July 27, 2014 1 Photo

Top News
Poll

Do you agree with the millage rate increases?

Yes. We need to maintain services
No. Services should have been cut.
     View Results