Molpus purchases timberland in Virginia, Georgia
The Molpus Woodlands Group, a timberland investment management organization, has purchased 26,500 acres in Georgia and Virginia on behalf of its clients. The timberland, located in Liberty and Long counties in Georgia, and Greensville, Sussex and Southampton counties in Virginia, consists mainly of southern pine timberland. Molpus currently manages an additional 22,000 acres in Georgia and Virginia.
This transaction will become part of a co-mingled fund for Molpus, which is headquartered in Jackson, Miss. The fund, which closed in May 2011 at approximately $439 million, is made up of U.S. and international investors, including corporate and public retirement systems, university endowments, foundations and private investors. Molpus currently has more than 1 million acres of timberland under management located in 15 states.