CatchMark Timber Trust, Inc. announced that it has formed a joint venture with the Missouri Department of Transportation & Patrol Retirement System, which acquired 11,031 acres of high-quality timberlands in North Georgia, known as the Dawsonville Package. Under terms of the 50-50 joint venture with MPERS, CatchMark will be the fiduciary for the public pension fund's investment and will manage the timberlands.

The timberlands acquired in the Dawsonville Package border the Chattahoochee National Forest and are located within 90 miles of both Atlanta and Chattanooga. Heavily stocked at an average of 51 tons of merchantable timber per acre, the timberlands are 75% pine with 41% sawtimber.

Jerry Barag, CatchMark's President and CEO, said: "The acquisition marks CatchMark's first transaction with an institutional partner and is in keeping with our strategy to acquire prime timberlands with sustainable characteristics and well above average harvest stockings to propel durable revenue growth. The tracts are extremely well located in metropolitan growth paths and over the long-term offer higher-and-better use options." 

Barag added that CatchMark "sees further opportunity to partner with pension funds and other institutions as these investors seek the diversification characteristics and income-generating benefits of timberland investments. In particular, we look forward to expanding our relationship with MPERS."