Friday, October 6, 2017
Roseburg Resources Co. is pleased to announce the acquisition of approximately 158,000 acres of investment-grade timberland in the southeastern United States from Forest Investment Associates (FIA), a timberland investment management organization.
The timberland is located around Roanoke Rapids, largely within the coastal region of North Carolina and southeastern Virginia, and has a strong history of professional management. The acquisition was completed Sept. 28, 2017.
“The property is an accretive addition to Roseburg’s Western-based timberland portfolio, with close proximity to broad, stable markets,” Roseburg Senior Vice President of Resources Scott Folk said. “With an attractive age class distribution and above-average site productivity, the property represents significant long-term value for the company, as Roseburg seeks to diversify and grow its timber holdings.” Scott added further.
Roseburg currently owns and sustainably manages over 630,000 acres of timberland in Oregon and California, largely composed of Douglas fir.
“This acquisition advances Roseburg’s planned expansion into the southeastern U.S., where steady housing starts and healthy markets create stable demand for high-quality timber,” Roseburg CEO Grady Mulbery said. “The region’s welcoming business environment and potential for growth also factored into our decision to add the property to our portfolio.” Mulbery concluded.