ATLANTA (June 30, 2022) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce that the Firm served as legal counsel to Superior Pine Products Company (Superior Pine), a family-owned forestland and natural resource company based in southern Georgia, in its acquisition of more than 58,000 acres of high-quality pine forestland near El Dorado, Arkansas and Monroe, Louisiana. The property, marketed as the “Castle Timberland property,” was acquired from the Molpus Woodlands Group.
Superior Pine purchased the pine forestland as a part of a plan to increase market reach by geographically diversifying its asset holdings beyond southern Georgia and southern Alabama. The acquisition gives Superior Pine a presence in two new markets characterized by diverse and growing demand for sustainably grown forest products.
Superior Pine plans to continue practicing sustainable forest management on the lands and intends to tap into the region’s growing solid wood market. Arkansas and Louisiana are both known for their availability of high-quality timber resources, access to domestic and global markets, and pro-business economies. Additionally, Superior Pine envisions monetizing the various natural capital values of these new assets, which could include the potential development of solar energy projects as well as the development and sale of forest-based carbon offsets (credits). Portions of the newly acquired land also offer the potential to develop wetland mitigation banking projects.
The SGR Atlanta legal team was led by Partner Mark Pottorff, along with Partner Sharon Duvall and Associate Matthew Van Dyke in the Real Estate Practice. Partners Joseph Mandarino in the Tax Practice, Tom Hong in the Corporate Practice, and Phillip Hoover in the Environmental Practice also advised on the transaction.
About Superior Pine Products Company
Superior Pine Products Company is a multi-generational, family-owned business that owns and operates working forestlands and agriculture businesses in Georgia, Alabama, and South Carolina. With nearly 100 years of experience in forest innovation, Superior Pine remains dedicated to sustainably managing the land and forest to achieve value for all of its stakeholders, as well as the surrounding communities. For more information, visit superiorpine.com.
About Smith Gambrell Russell
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 270 attorneys provide legal counsel in more than 45 specialized practice areas, including corporate transactions, litigation, intellectual property, aviation, banking, real estate, construction, employment law, and employee benefits and executive compensation. Founded in 1893, SGR has offices in Atlanta, Austin, Charlotte, Chicago, Jacksonville, London, Los Angeles, Miami, New York, Southampton, and Washington, D.C.