- The addition comes from two separate purchases. The Louisiana property known as the King parcel contains about 12.2K acres and brings Rayonier's (NYSE:RYN) Louisiana holdings up to roughly 150K acres. It was purchased for $25.5M, contains merchantable inventory of 560K tons, is comprised of about 86% plantable lands, and is expected to improve the company's sustainable yield by about 45K tons per year.
- The Oregon property known as the Scappoose parcel has about 5.6K acres. It bring's the company's total Northwest ownership to 374K acres. This parcel was purchased for $34M. It contains merchantable inventory of 102K tons, of which an estimated 95% is high-value Douglas-fir. It's expected to improve the company's sustainable yield by about 35K tons per year.
- Source: Press Release