Molpus Woodlands Group, out of Jackson, MS, has agreed on behalf of a unidentified client to buy about 73,000 acres of timberland located around Birmingham, AL. The close of the purchase is set to occur in installments starting this month. Terms were not disclosed.
Dick Molpus, president of the timberland investment management firm, says the timberland is located in 13 counties. He said the land consists of Loblolly pine plantations distributed among all age classes. Michael Cooper, the firm’s general counsel, declined to identify the buyer, who he said is an institutional investor, and declined to identify the counties where deals are pending.
Molpus currently manages about 1.5 million acres of timberland investments in 17 states.