Land And Balcones Club Apartments Sold In Austin
More On This Topic: Taskflo By Kinan Beck “There is news of two big purchases in Austin. The first involves the purchase of over 1.5 million acres of timberland. Temple-Inland Inc. sold the property to an affiliate of the Campbell Group. The selling price was reportedly $2.4 billion. 0.4 of the purchased acres are in Alabama, Louisiana, and Georgia, but the bulk of the purchase is located in East Texas. Temple-Inland Inc. is expected to make net cash proceeds of $1.8 billion and is expected to grant common stockholders $1.1 billion, or $10.25 per share after the purchase. The timberland agreement includes a 12-year fiber saw timer supply agreement and a 20-year pulpwood fiber supply agreement. In addition, affiliates of The Campbell Group have promised to maintain Temple-Inland Inc.’s commitment to the environment. This likely means that the new investors will have to continue the conservation efforts started by Temple-Inland…