REIT Weyerhaeuser Lands Alabama Timberlands For $149M
Law360 (February 25, 2021, 6:12 PM EST) -- Real estate investment trust Weyerhaeuser said Thursday that it signed a roughly $149 million deal to buy 69,200 acres of Alabama timberlands from a land management unit of industrial packaging maker Greif Inc.
Weyerhaeuser Co. announced in a news release that it is nabbing the land, which can be harvested for timber, from Greif subsidiary Soterra. The property adds to the nearly 600,000 acres that Weyerhaeuser already owns and manages in Alabama, alongside two mills and a nursery in the state.
"This transaction is a great opportunity to enhance our portfolio by acquiring high-quality, well-managed timberlands with low operating risk," Weyerhaeuser...
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