Spokane, WA–PotlatchDeltic Corp., headquartered here, has announced an agreement to sell approximately 72,000 acres in Minnesota to The Conservation Fund for approximately $48 million in cash. The transaction is subject to customary closing conditions and is expected to close in the second half of 2020.
This outcome is a culmination of long-standing work The Conservation Fund and PotlatchDeltic have been able to complete together to achieve conservation and economic goals, a company statement said. With this transaction and others underway, the partnership has been the catalyst to conserve more than 200,000 acres in Minnesota for conservation purposes, including working forests, protection of important habitats and public access.
The PotlatchDeltic lumber mill in Bemidji will continue to operate successfully, as it has for nearly 30 years. The property being sold to The Conservation Fund as a working forest will continue to supply logs to these markets and provide for the protection of the essential jobs required to deliver and process the trees.
PotlatchDeltic is a leading Real Estate Investment Trust that owns approximately 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.
More information can be found at www.potlatchdeltic.com.
