Nuveen Natural Capital Completes Sale of 66,800 Acres in Texas and Georgia to Rayonier

Nuveen Natural Capital, a global investment and asset management company specializing in the acquisition and stewardship of forestry assets, announced today (2-3-22) that it had completed the sale of 66,800 acres in Texas and Georgia to Rayonier, a leading timberland real estate investment trust. The purchase price was $ 124.2 million, prior to transactional costs.

According to the news release, the sale completes a successful investment cycle for Nuveen Natural Capital, capitalizing on a unique opportunity for a high quality, scale owner in the region. Nuveen Natural Capital began investing in timberland in the region in 1998, on behalf of TIAA, acquiring the Texas and Georgia properties between 1999 and 2005.

In commenting on the completion of the sale, David Nunes, President and CEO of Rayonier said, “This acquisition is a great example of how we create value through active portfolio management. Located in highly productive areas of Texas and Georgia, with a mature age-class distribution that complements our existing portfolio, these properties help Rayonier grow scale in strong timber markets.”