JACKSON — The Molpus Woodlands Group, LLC, on behalf of an unnamed client, has successfully purchased approximately 26,500 acres of timberland located in Georgia and Virginia.
The timberland, located in Liberty and Long Counties in Georgia, and Greensville, Sussex and Southhampton Counties in Virginia, consists mainly of southern pine timberland. Molpus currently manages approximately 22,000 acres in Georgia and Virginia.
This transaction is the second acquisition for Molpus’s third co-mingled fund.
Molpus Woodlands Group president Dick Molpus said, “We are pleased to expand our existing operations in these areas.”
The fund, which closed in May 2011 at approximately $439 million, is made up of U.S. and international investors, including corporate and public retirement systems, university endowments, foundations and private investors. Molpus currently has over one million acres of timberland under management located in 15 states.