Catchmark announces agreement to sell 18,063 acres of prime oregon timberlands to roseburg resources co.

Atlanta, june 22, 2021 /prnewswire/ -- catchmark timber trust, inc. (nyse: ctt) today announced a definitive agreement to sell 18,063 acres of prime oregon timberlands – known as the bandon property – for $100 million in cash, or approximately $5,536 per acre, to roseburg resources co. catchmark purchased the property in august 2018 for $88.8 million, or $4,916 per acre, exclusive of transaction costs. the company expects to recognize a gain on the sale in excess of $20 million in the third quarter of 2021.
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