REIT Buys $154M Stake In Vulcan's Future Quarry Production

Law360, New York (September 26, 2013, 11:45 AM EDT) -- Real estate investment trust Plum Creek Timber Company Inc. has agreed to buy a $154 million stake in future crushed stone production at quarries owned by Vulcan Materials Co., a deal Plum Creek touted Wednesday as an opportunity to boost its presence in southeastern construction markets.

Plum Creek inked a deal to acquire an interest in 255 million tons of production at four of Vulcan's quarries in Atlanta, the company said. Under the agreement, the REIT will receive royalty payments from the production and sale of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.