JACKSON — The Molpus Woodlands Group, LLC, a timberland investment management organization, on behalf of a client has purchased approximately 130,659 acres in New York for approximately $57,500,000.
Located in St. Lawrence, Clinton, Franklin and Lewis counties in the north-central part of upstate New York, the property is almost entirely within the boundaries of New York’s Adirondack Park. The property has historically been in timber production and consists mostly of northern hardwoods. Additionally, the property is certified under the Sustainable Forestry Initiative.
Ken Sewell, COO of Molpus Timberlands Management, said, “This is a high-quality property supporting a diversity of northern hardwoods that fits well with our client’s investment objectives. We look forward to managing it under the existing conservation easements and continuing the sustainable forestry practices that have been historically demonstrated on this property.”
This acquisition increases Molpus’s total assets under management to more than $1.5 billion with a total acreage of approximately 1,600,000. Molpus currently maintains an office in Saranac Lake, N.Y., to oversee the management of approximately 30,000 acres previously purchased in this area.