CATCHMARK TIMBER TRUST, INC. (NYSE:CTT) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
joint venture between a wholly-owned indirect subsidiary of
CatchMark Timber Trust, Inc. (the Company) and the Missouri
Department of Transportation Patrol Retirement System (MPERS),
acquired a portfolio of 11,031 acres of high-quality commercial
timberlands located in North Georgia (the Dawsonville Portfolio).
The Joint Venture acquired the Dawsonville Portfolio for an
aggregate purchase price of $20 million, exclusive of closing
costs.
percent (50%) membership interest in the Joint Venture and serves
as the sole manager of the Joint Venture. The Company manages the
day to day business and activities of the Joint Venture, subject
to certain major decisions that require the prior consent of
MPERS. The Company funded its equity investment in the Joint
Venture with funds borrowed under its existing multi-draw credit
facility.
Forest and is located within 90 miles of both Atlanta, Georgia
and Chattanooga, Tennessee. Heavily stocked at an average of 51
tons of merchantable timber per acre, the Dawsonville Portfolio
is comprised of approximately 75% pine with approximately 41%
sawtimber. The Dawsonville Portfolio will be managed by Forestry
Resource Consultants, Inc.
the Joint Ventures acquisition of the Dawsonville Portfolio. A
copy of the press release is attached as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated by reference into
this item 7.01. Attached as Exhibit 99.2 to this Current Report
on Form 8-K and incorporated by reference into this Item 7.01 is
a copy of a presentation regarding the Joint Venture and the
Dawsonville Portfolio which the Company has prepared for use with
market analysts and other potential joint venture partners.
on Form 8-K, including Exhibit 99.1 and Exhibit 99.2 hereto,
shall not be deemed to be filed for the purposes of Section 18 of
the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that section, nor shall such
information be deemed incorporated by reference in any filings
under the Securities Act of 1933, as amended, except as shall be
expressly set forth by specific reference in such filing.
|
Exhibit No.
|
Exhibit Description
|
|
|
99.1
|
Press Release dated April 25, 2017
|
|
|
99.2
|
Dawsonville Portfolio Presentation
|
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Such forward-looking statements
can generally be identified by our use of forward-looking
terminology such as may, will, expect, intend, anticipate,
estimate, believe, continue, or other similar words. Readers of
this Current Report on Form 8-K should be aware that there are
various factors that could cause actual results to differ
materially from any forward-looking statements made in this
Current Report on Form 8-K. Factors that could cause or
contribute to such differences include, but are not limited to,
(i) the Joint Venture may not generate the harvest volumes or the
harvest mix from its timberlands that the Company currently
anticipates and the demand for the Joint Ventures timber may not
be as great as the Company currently expects; (ii) the cyclical
nature of the real estate market generally, including
fluctuations in demand and valuations, may adversely impact the
Joint Ventures ability to generate income and cash flow from
sales of higher-and-better use properties; (iii) the Joint
Venture may not be able to take advantage of the mitigation bank
credits in the amount that the Company currently anticipates;
(iv) the Company may not be successful in raising additional
institutional capital through other joint ventures to fund its
growth initiatives
the Companys Annual Report on Form 10-K for the fiscal year ended
December 31, 2016, under the heading Risk Factors and its other
filings with Securities and Exchange Commission. You are
cautioned not to place undue reliance on any of these
forward-looking statements, which reflect the Companys views only
as of the date of this Form 8-K. Furthermore, except as required
by law, the Company is under no duty to, and does not intend to,
update any of its forward-looking statements after this date,
whether as a result of new information, future events or
otherwise.
About CATCHMARK TIMBER TRUST, INC. (NYSE:CTT)
CatchMark Timber Trust, Inc. is a self-administered and self-managed real estate company investing in timberlands. The Company is engaged in the ownership, management, acquisition and disposition of timberland properties located in the United States. The Company conducts all of its business through CatchMark Timber Operating Partnership, L.P. As of December 31, 2016, the Company owned interests in approximately 499,600 acres of timberlands in the United States. South, approximately 467,500 acres of which were held in fee-simple interests and approximately 32,100 acres were held in leasehold interests. As of December 31, 2016, its timberlands included approximately 74% pine stands and 26% hardwood stands. As of December 31, 2016, the Company’s leased timberlands included approximately 28,700 acres under one long-term lease and approximately 3,400 acres under a single-rotation lease. CATCHMARK TIMBER TRUST, INC. (NYSE:CTT) Recent Trading Information
CATCHMARK TIMBER TRUST, INC. (NYSE:CTT) closed its last trading session up +0.13 at 11.91 with 245,610 shares trading hands.
