A Mississippi-based timberland investment organization has purchased 130,659 acres of property spanning several counties, including St. Lawrence.
The Molpus Woodlands Group, LLC issued a release on its website stating it purchased the property for $57.5 million.
"Located in St. Lawrence, Clinton, Franklin and Lewis Counties in the north-central part of upstate New York, the property is almost entirely within the boundaries of New York's Adirondack Park," the company said.
According to the release, the acquisition increases Molpus's total assets under management to more than $1.5 billion with a total acreage of approximately 1.6 million. Molpus currently maintains an office in Saranac Lake, New York, to oversee the management of approximately 30,000 acres previously purchased in this area.
The property was previously owned by Rayonier Hunting, which leased the property to various sports clubs.
A portion of the St. Lawrence County Multi-use trail is also expected to cross a portion of the property.
See the complete press release at www.molpus.com/molpus-woodlands-group-acquires-130659-acres-in-newyork.html