CatchMark Timber Trust, Inc. (NYSE:CTT) entered into a purchase and sale agreement to acquire 1,300 acres of prime timberlands located in southeast Alabama after the quarter ending March 31, 2022. In a related transaction, CatchMark entered into separate purchase and sale agreement to acquire high-quality timberlands in South Carolina. The combined value of consideration for both the transactions is approximately $5 million. The acquisitions will be funded with cash on-hand and are expected to close by early third quarter. The transactions fit the company's acquisition target objectives with long-term portfolio accretive attributes.

CatchMark Timber Trust, Inc. (NYSE:CTT) completed the acquisition of 1,300 acres of prime timberlands located in southeast Alabama for $2.2 million on June 24, 2022.