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SGR works with Hancock Timber Resource Group on timberland acquisition
Smith, Gambrell & Russell served as advising counsel to Hancock Timber Resource Group during the acquisition of 115,000 areas of timberland from Bowater Incorporated for approximately $104 million.
A purchase and sale agreement for the transaction was announced on October 23, 2001
The property includes 94,400 acres in central South Carolina and 20,600 acre in west central North Carolina. This bring the company’s southern holding to 1.74 million areas under management. HTRG is the world’s largest timberland investment management organization for institutional clients, with $2.6 billion and 3.1 millions acres under management in North America and Australia.