Rayonier sells 36,000 acres of Washington timberland for $145 million in swap deal with RMS
RYN•Timberland portfolio swap with RMS
Rayonier completed a timberland portfolio swap with RMS, selling about 36,000 acres in southwest Washington for $145 million.
In the same transaction, Rayonier purchased about 57,000 acres in Alabama and Texas for $146 million, structured as a like-kind exchange.
The deal is expected to add about $3 million a year in incremental Adjusted EBITDA from timber operations over the next 10 years.
