Adams and Reese Attorneys Vic Lott and Andy Freeman served as legal advisors to the Jackson, Miss.-based timberland investment management organization, The Molpus Woodlands Group, LLC, which announced, on behalf of a client, that they completed the successful purchase of approximately 14,280 acres in East Texas for a purchase price of $18.4 million. This property was purchased from Cambium Corrigan Limited Partnership, an entity of Cambium Global Timberland Limited.
Located in Polk County, Texas, and comprised of high-quality pine plantations, the Cambium property has historically been utilized for timber production as part of Champion and International Paper’s past landholdings in the region. As such, the property has benefited from sound management practices such as multiple fertilizations, commercial thinnings, and other value-enhancing activities.
This acquisition increases Molpus’s total assets under management to over $1.125 billion and the total acreage under management to almost 1 million.
In September of this year, Lott and Adams and Reese attorney Ashley Harris served as legal advisors to Molpus, on behalf of a client, that they completed the successful purchase of 124,521 acres, consisting of predominantly pine plantation in seven total states. Lott and Harris also served as legal advisors to Molpus in the company’s November 2009 acquisition of approximately 91,360 acres of mature pine sawtimber timberland and related timber cutting rights from Anthony Forest Products Company for a total purchase price of $173.15 million.
The Molpus Woodlands Group, LLC, a Registered Investment Advisor, was founded in 1996 as a Timber Investment Management Organization (TIMO). With its sister operating company, Molpus Timberlands Management, LLC (collectively, Molpus), operating since 1905, Molpus is one of the oldest timber-related companies in the nation, with experience in all facets of timber management, manufacturing, and marketing.
