We are pleased about continuing the legacy of stewardship that IP exhibited.
Jackson, MS (Vocus) September 27, 2010
The Molpus Woodlands Group, LLC (Molpus), a timberland investment management organization (TIMO), headquartered in Jackson, Mississippi, has announced today, on behalf of a client, the successful purchase of a major tract of timberland, approximately 124,521 acres. Molpus acquired these acres from Rock Creek Capital, who purchased the acres from International Paper Company (IP).
The acreage, consisting of predominantly pine plantation, is located in the states of Virginia, North Carolina, Georgia, Florida, Alabama, Mississippi, and Louisiana The properties have been well-managed, benefiting from advanced silvicultural practices, site preparation and other value-enhancing activities. Dick Molpus, President of Molpus, stated, “We are pleased about continuing the legacy of stewardship that IP exhibited.”
Dick Molpus further stated, “The International Paper properties are high-quality timberlands located in seven southeastern states and represent a diversity of wood baskets with strong product demand. Although these properties were purchased for timberland prices, their proximity to urban areas and major corridors leads us to believe they have promising development, biomass, and conservational opportunities.”
This acquisition increases Molpus’s total assets under management to over a billion dollars. Molpus is adding two additional office locations in Florida and North Carolina to its current fourteen offices located in eight other states.
Victor Lott, Jr., and Ashley Harris of Adams and Reese LLP, in Mobile, Alabama, served as legal advisors to Molpus and its client in the transaction. Jim Main of Holland & Knight in Jacksonville, Florida served as legal advisor to Rock Creek Capital in connection with the transaction.
The Molpus Woodlands Group, LLC, a Registered Investment Advisor, was founded in 1996 as a Timber Investment Management Organization (TIMO). With its sister operating company, Molpus Timberlands Management, LLC (collectively, Molpus), operating since 1905, Molpus is one of the oldest timber-related companies in the nation, with experience in all facets of timber management, manufacturing, and marketing. Molpus is one of the few TIMOs that have all of their core businesses and forestry functions handled or supervised by in-house experts.
Molpus employs sixty-seven people in its fourteen offices located in Alabama, Arkansas, Kentucky, Louisiana, Michigan, Mississippi, New York, and Oklahoma. Molpus acquires, manages, and sells timberland as an investment vehicle for pension funds, college endowments, foundations, insurance companies, and high net-worth individual investors. The company focuses on ensuring long-term optimum cash returns on investments while practicing responsible forest stewardship. For more information, visit http://www.molpus.com/.
Rock Creek Capital is an alternative investment and asset management firm headquartered in Jacksonville, Florida. Rock Creek’s investments are overseen by an experienced team of professionals who have extensive experience in timberland asset management, real estate investment, residential real estate development, zoning, environmental, and land-use regulation. For more information, visit http://www.rockcreekcapital.com.
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