The Molpus Woodlands Group, LLC, a timberland investment management organization headquartered in Jackson announced Tuesday the purchase of 36,283 acres in Virginia.
Located in 23 counties surrounding Richmond, the primarily southern pine plantation property has been in production for decades and is located in a stable timber market and a growing bioenergy market area, the company said in a news release.
The property also offers recreational opportunities, said Ken Sewell, chief operating officer of Molpus Timberlands Management.
Molpus has 1.6 million acres under management, valued at more than $1.5 billion. A timberland investment management organization, or TIMO, helps institutional investors manage their timberland investments.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info