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Rayonier merger creates larger timberland REIT portfolio
The combined company now controls about 4.1 million acres of timberland, including roughly 3.2 million acres in the U.S. South and about 900,000 acres in the Pacific Northwest.
Rayonier Inc. described its January merger with PotlatchDeltic as part of a broader consolidation trend in U.S. timberland real estate, positioning the combined company to pursue value beyond traditional timber harvesting, according to Nareit.
The transaction leaves Rayonier as one of only two remaining North American timberland REITs, following a steady wave that has reduced the number of publicly traded timber companies over the past decade, Nareit said.
Management said the deal was intended to deliver strategic flexibility rather than growth for its own sake, with CEO Mark McHugh framing it as a one-plus-one-equals-three opportunity to build a stronger long-term competitor.
Nareit reported that the combined company owns approximately 4.1 million acres of timberland, including about 3.2 million acres across the U.S. South and roughly 900,000 acres in the Pacific Northwest.