JACKSON — The timberland investment management firm Molpus Woodlands Group, LLC has, on behalf of a client, entered into an agreement to purchase approximately 73,000 acres of timberland located north, east and west of Birmingham, Ala.
The close of the purchase is set to occur in installments starting in October 2013. Terms were not disclosed.
The timberland, located in 13 counties, consists of loblolly pine plantations distributed among all age classes. Molpus currently maintains an office in Hoover, Ala., to oversee the management of approximately 161,000 acres purchased earlier in the Birmingham area.
Molpus president Dick Molpus said, “These properties represent a high-quality timberland investment within a competitive timber market, and they offer strong recreational opportunities to the region as well.”
Molpus currently manages approximately 1.5 million acres of timberland investments in 17 states and employs 97 people in its 15 offices operating in Alabama, Arkansas, Florida, Georgia, Idaho, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, New York, North Carolina, Oklahoma, Pennsylvania, Tennessee, Texas and Virginia.