When one thinks of large commercial real estate transactions, the first thing that comes to mind is usually the sale of a major skyscraper in Manhattan or a multifamily portfolio in a region of the United States with a strong economy. Most people don’t think about the sale of timber land.
Well, I’m here to tell you that it’s a bigger deal than you might think.
GRS | Title was recently hired to assist with a $1.1-billion sale of timber land that the major firm MeadWestvaco decided to dispose. It was a five-state transaction, and we got hired to assist with the 125,000 acres sold in Virginia.
It might seem simple, just dealing with one state, but that’s not quite the truth. Initially we thought there were 368 parcels in Virginia that we had to deal with. But ended up being over 600 parcels that we needed to examine and underwrite title commitments on.
This was far from easy. Some of properties had boundaries as obscure as where a person’s pigsty was located decades ago, for example.
But through GRS | Title’s managed network, we were able to get the project done on time and complete a major transaction, as we do everyday in other sectors of commercial real estate such as multifamily, office, industrial, retail and others.
We were brought in because of our firm’s experience in handling larger, more complex transactions. Not every CRE services firm can say that.
GRS | Title is here to help with any potential timber sale your firm might have, no matter how complicated or wherever the locale might be. We can service your transaction from Alaska to Florida and even internationally.
You can contact me here to talk more about timber or any other commercial title needs your entity might have.