Law360 (January 15, 2020, 5:56 PM EST) -- Real estate investment trust Rayonier said Wednesday it will buy Pope Resources to build out its timberland holdings in a deal led by three law firms that values the limited partnership at $554 million.
Florida-based Rayonier Inc. said it will snap up all outstanding limited partnership units of Pope Resources in order to unite two players in the timberland field using a tax-friendly structure.
“We are delighted to be combining two premier pure-play timber organizations using an innovative tax-deferred UPREIT structure,” David Nunes, president and CEO of Rayonier, said in a statement. “Pope Resources has a strong track record as a...
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