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
- BILL CRAWFORD: Dan Jones not the angel he is portrayed to be
- DAVID DALLAS — Just how long can Dan stand?
- The Dan Jones-IHL saga: Is this the story that started it all?
- Cal-Maine income skyrockets as prices rise and costs shrink
- Analysis: Closed meetings can feed false public impressions
- Lawmakers move on bonds despite complaints from colleges and universities
- Business groups file briefs in support of Kemper coal plant rehearing
- Grain scandal takes its toll on Delta farmers
- DAVID DALLAS — From Dan and Dixie with love