News Desk, Timberland

Weyerhaeuser to Acquire 645,000 Acres

Weyerhaeuser announced on June 16 that it was purchasing Longview Timber from affiliates of Brookfield Asset Management for $2.65 billion, including debt. Longview Timber’s assets include 645,000 acres of high-quality timberlands in Washington and Oregon. The transaction will increase the REIT’s timberlands in the Pacific Northwest by 33 percent to approximately 2.6 million acres. Overall, Weyerhaeuser will increase the total US timberlands it owns or controls to approximately 6.6 million acres. The transaction is expected to close in July 2013.

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