Willmott Forests assets sale completedGlobal Timber Investors 9 (“GTI9”, an international timber investment fund managed and advised by Global Forest Partners LP, “GFP”), has completed the acquisition of the majority of the ex Willmott Forests plantation estate. A new company named Snowy Mountains Forests Pty Limited (“SMF”) has been created to hold and manage the assets.
The SMF assets comprise of:
- Approximately 10,000 net planted hectares of freehold land and Radiata pine plantations in the Bombala region, predominantly established from 2000 to 2008;
- Approximately 10,700 net planted hectares of freehold land and Radiata pine plantations in the Murray Valley (Tumut/Tumbarumba) region, predominantly established from 2005 to 2009;
- Approximately 9000 hectares of freehold land on the north coast of NSW and south east QLD.
The Murray Valley and Bombala estates will be managed by SMF as an ongoing forestry enterprise. The North Coast assets (comprising 22 properties within a 70km radius of Casino and three outlying properties at Port Macquarie and Gympie, QLD) will be offered for sale in individual parcels.
Jacob Lazarus has been appointed General Manager of SMF in addition to his current responsibilities as General Manager of Hume Forests Limited and Murray River Forests Pty Ltd.
Note: GFP, a US based timber investment management organization manages forests on behalf of investor clients with a value in excess of AU$3.0 billion in Australia, Brazil, Chile, Guatemala, New Zealand, United States and Uruguay. The website, www.gfplp.com provides further details on GFP.
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