Molpus Woodlands buys New York timberland
by MBJ Staff
Published: January 7,2014
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Report: Mississippi only state to see drop in home prices
- Palmertree blocked from using public funds for legal defense
- Two companies fined for violations of 'No-Call' law
- District at Eastover takes shape with financing in place, tenant signings under way
- Chris McDaniel gets a thank you note from Travis Childers
- States settle with manufacturers in DRAM price-fixing case
- John Ferrucci'a perfect voice is perfect for the Silver Slipper Casino
- City suing Hercules for pollution at shuttered plant site
- The First acquiring Alabama bank in cash/stock deal
- Pickering collects more money from failed beef plant project