PotlatchDeltic Corp. officials recently announced an agreement to sell 72,000 acres in Minnesota to The Conservation Fund for approximately $48 million. The transaction is expected to close in the second half of 2020. Company officials noted the sale is part of the REIT’s rural real estate sales program.
Larry Selzer, president and CEO of The Conservation Fund, stated that “Our goal is to ensure the 72,000 acres remain forested and sustainably managed as working timberlands.” A Conservation Fund release stressed the acreage is being sold as a working forest and will continue to feed the PotlatchDeltic sawmill at Bemidji, Minn.
The acquisition is being made through the group’s Working Forest Fund that seeks to protect ecologically and economically important forestlands from subdivision and fragmentation, with a goal to strengthen rural economies and conserve natural ecosystems.
The Conservation Fund has worked in all 50 states and protected more than 8 million acres of land, including more than 311,000 acres in Minnesota. PotlatchDeltic owns 1.8 million acres in six states and operates seven forest products manufacturing facilities through a subsidiary.
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