HOUSTON – Western Pocahontas Properties, L.P. (WPP), a private limited partnership based in Houston, TX, has acquired timber harvest rights on 147,000 acres of timberland properties in Kentucky, West Virginia and Maryland. These harvest rights are comprised primarily of mixed Appalachian hardwood timber.
WPP previously sold these timber harvest rights to a private investment fund in 2006. Through this acquisition, WPP will recombine these timber interests with its other mineral and surface interests throughout the region. WPP plans to continue managing these forest resources on a sustainable basis.
WPP worked with AgAmerica Lending on the financing for this acquisition and other capital requirements. AgAmerica Lending, a nationwide lender with a central focus on agricultural land financing, secured a 3-year, interest-only loan with a revolving line of credit to assist WPP in the acquisition of these timber rights as well as other capital requirements. Through this partnership, WPP was able to access beneficial cash-flow for operational capital as needed.
