Roseburg Resources Co. is pleased to announce the acquisition of approximately 158,000 acres (63,940 hectares) of investment-grade timberland in the South-Eastern United States (U.S.) from the Forest Investment Associates (FIA), a timberland investment management organisation.
The land is located around Roanoke Rapids, largely within the coastal region of North Carolina and South-Eastern Virginia, and has a strong history of professional management.
“The property is an accretive addition to Roseburg’s Western-based timberland portfolio, with close proximity to broad, stable markets,” Roseburg Senior Vice President of Resources, Scott Folk, said. “With an attractive age class distribution and above-average site productivity, the property represents significant long-term value for the company, as Roseburg seeks to diversify and grow its timber holdings.”
Roseburg currently owns and sustainably manages over 630,000 acres of timberland in Oregon and California, largely composed of Douglas fir.
“This acquisition advances Roseburg’s planned expansion into the South-Eastern U.S., where steady housing starts and healthy markets create stable demand for high-quality timber,” CEO of Roseburg, Grady Mulbery, said. “The region’s welcoming business environment and potential for growth also factored into our decision to add the property to our portfolio.”
