{"id":4514,"date":"2021-09-05T13:46:32","date_gmt":"2021-09-05T20:46:32","guid":{"rendered":"https:\/\/southernoregonbusiness.com\/?p=4514"},"modified":"2021-09-05T14:11:48","modified_gmt":"2021-09-05T21:11:48","slug":"catchmark-completes-100-million-sale-of-oregon-timberlands-to-roseburg-resources-co","status":"publish","type":"post","link":"https:\/\/southernoregonbusiness.com\/catchmark-completes-100-million-sale-of-oregon-timberlands-to-roseburg-resources-co\/","title":{"rendered":"CatchMark Completes $100 Million Sale of Oregon Timberlands to Roseburg Resources Co."},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

CatchMark Timber Trust, Inc. (NYSE: CTT) today announced that it had completed the sale of 18,063 acres of prime Oregon timberlands \u2013 known as the Bandon property \u2013 for $100 million in cash, or approximately $5,536 per acre, to Roseburg Resources Co. <\/p>\n\n\n\n

The property had been purchased in August 2018 for $88.8 million or $4,916 per acre.<\/p>\n\n\n\n

The company recognized a gain on the sale of approximately $23 million.  <\/p>\n\n\n\n

CatchMark increased its guidance for full-year net income to a range of $13 to $17 million to reflect the sale but has not made any other adjustments to its full year 2021 guidance. <\/p>\n\n\n\n

CatchMark had harvested approximately 80% of its targeted full-year 2021 volume for the Bandon property by transaction close.<\/p>\n\n\n\n

CatchMark Chief Executive Officer Brian M. Davis said: “Coming off an exceptionally strong second quarter when we generated record revenues, cash from operations, and Adjusted EBITDA and our second highest quarter of net income, this disposition demonstrates our ability to execute accretive capital recycling transactions and further strengthens CatchMark’s capital position. It also allows us to concentrate our activities in the U.S. South where we have a very robust operations platform and see the greatest opportunity for future growth. <\/p>\n\n\n\n

Most of the sale proceeds will be used to pay down existing debt. Our simple strategy remains focused on investing in prime timberlands in the nation’s leading mill markets, employing delivered wood sales as well as opportunistic stumpage sales to provide predictable and stable cash flow, help cover our dividend, and create long-term shareholder value.”<\/p>\n\n\n\n

AFM Real Estate acted as CatchMark’s broker for the transaction.<\/p>\n\n\n\n

About CatchMark<\/strong><\/p>\n\n\n\n


CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 1.5 million acres* of timberlands located in Alabama, Georgia, Oregon, South Carolina and Texas. For more information, visit www.catchmark.com.
* As of June 30, 2021<\/p>\n\n\n\n

About Roseburg Forest Products<\/strong><\/p>\n\n\n\n


Founded in 1936, Roseburg Forest Products is a privately-owned company and one of North America’s leading producers of particleboard, medium density fiberboard and thermally fused laminates. Roseburg also manufactures softwood and hardwood plywood, lumber, LVL and I-joists. The company owns and sustainably manages more than 600,000 acres of timberland in Oregon, North Carolina and Virginia, as well as an export wood chip terminal facility in Coos Bay, Ore. Roseburg products are shipped throughout North America and the Pacific Rim. <\/p>\n\n\n\n

To learn more about the company please visit www.roseburg.com.<\/p>\n\n\n\n

About American Forest Management
<\/strong><\/p>\n\n\n\n

American Forest Management offers a suite of services including land and habitat management, timberland inventory and sales, environmental practices and technical services. AFM Real Estate, as subsidiary, offers real estate acquisition and disposition services.  Headquartered in Charlotte, N.C., American Forest Management serves clients across the country with 50+ regional offices and oversees more than 6 million acres of land. For over fifty years, it has been the industry’s leading company, coordinating land transactions valued at over $3.2 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

CatchMark Timber Trust, Inc. (NYSE: CTT) today announced that it had completed the sale of 18,063 acres of prime Oregon timberlands \u2013 known as the Bandon property \u2013 for $100 million in cash, or approximately $5,536 per acre, to Roseburg Resources Co.  The property had been purchased in August 2018 for $88.8 million or $4,916 per acre. The company recognized a gain on the sale of approximately $23 million.   CatchMark increased its…<\/p>\n","protected":false},"author":26,"featured_media":4562,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_wp_rev_ctl_limit":""},"categories":[89],"tags":[],"yoast_head":"\nCatchMark Completes $100 Million Sale of Oregon Timberlands to Roseburg Resources Co. - Southern Oregon Business Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southernoregonbusiness.com\/catchmark-completes-100-million-sale-of-oregon-timberlands-to-roseburg-resources-co\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CatchMark Completes $100 Million Sale of Oregon Timberlands to Roseburg Resources Co. - Southern Oregon Business Journal\" \/>\n<meta property=\"og:description\" content=\"CatchMark Timber Trust, Inc. (NYSE: CTT) today announced that it had completed the sale of 18,063 acres of prime Oregon timberlands \u2013 known as the Bandon property \u2013 for $100 million in cash, or approximately $5,536 per acre, to Roseburg Resources Co.  The property had been purchased in August 2018 for $88.8 million or $4,916 per acre. 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