PORTLAND -- Forest Capital Partners has sold its 1.88 million-acre timberland portfolio to Hancock Timber Resource Group and Molpus Woodlands Group.
Forest Capital Partners, with headquarters in Portland and Boston, paid $1.65 billion for the timberland. The financial terms of what it sold for have not been disclosed.
Hancock Timber is acquiring 573,000 acres in Oregon, 376,000 acres in Louisiana, 264,000 acres in Washington and 138,000 acres in Idaho.
Molpus is buying 286,000 acres in Minnesota, 110,000 acres in Louisiana and 138,000 acres in Idaho.
Dick Molpus is the president of Molpus Woodlands Group, which acquires, manages and sells timberland as an investment vehicle for pension funds, college endowments and wealthy individual investors.
He describes the timberlands as highly productive and ideally situated near timber markets with competitive pricing.