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.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Judge to hear from True the Vote as McDaniel attempts to overturn loss to Cochran
- Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau
- DAVID DALLAS: Mr. McDaniel goes to Washington
- Three indicted, alleged to have embezzled from agency
- Walker sentenced to 18 months for fraud, conspiracy
- Manning family establishes health care initiative at UMMC
- Weyerhaeuser investing $57M to modernize lumber mill
- Google chooses Mad Genius as example of Internet use
- Communities awarded national Main Street accreditation