ATLANTA (October 4, 2018) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce that firm client, CatchMark Timber Trust, Inc. (NYSE: CTT), has agreed to purchase 18,063 acres of prime Oregon timberlands, known as the Brandon Property, from Forest Investment Associates (FIA) for $88.8 million. Separately, CatchMark has agreed to sell 56,000 acres of timberlands in East Texas and western Louisiana of the Southwest Region to FIA for $78.5 million.
Advising CatchMark on the transaction is an SGR legal team led by Atlanta Real Estate Practice Section Head Mark Pottorff, and Atlanta Real Estate’s Sharon Duvall, Partner and Matt Moore, Associate. SGR has a long history of representing buyers and sellers of timber properties. Most recently, the firm advised CatchMark in the recent 1.1 million-acre timberlands acquisition in East Texas for $1.39 billion, one of the largest industry transactions in a decade.
CatchMark Timber Trust, Inc. (NYSE:CTT) is a self-administered and self-managed, publicly-traded REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests, and well-timed real estate sales. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in approximately 1.6 million acres* of timberlands located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas. For more information, visit www.catchmark.com. *As of July 6, 2018.
About Smith, Gambrell & Russell, LLP
SGR is a full service, international law firm that advises regional, national and global businesses on a wide range of legal matters. The firm’s more than 220 attorneys provide legal counsel in more than 45 specialized practice areas, including corporate transactions, litigation, intellectual property, aviation, banking, real estate, timber, construction and employment law. Founded in 1893, SGR has offices in Atlanta, Austin, Jacksonville, London, Los Angeles, Munich, New York, Southampton, and Washington, D.C.