Company Has Acquired More Than 60,000 Acres Of High Quality Timberlands In Alabama, Mississippi For Clients In Past Few Months
BOSTON (February 23, 2016)—The Hancock Timber Resource Group has completed the acquisition of approximately 25,000 acres of timberlands in Alabama from Rayonier Inc.
This transaction is a follow-on to another transaction completed in late 2016 where Hancock Timber acquired approximately 37,000 acres of timberlands in Mississippi and Alabama from Rayonier.
“We are very pleased to secure additional high quality timberlands for our clients,” said Hancock Timber Resource Group President Brent Keefer. “These properties are located in an area of the US South with deep and diverse markets for forest products. We will be able to supply solid wood and fiber to a variety of facilities in southern Alabama, western Georgia, and northern Florida. We look forward to managing them to their highest potential.”
As with the previous acquisition, the timberlands are stocked with well-managed southern pine plantations and hardwoods. The timberlands will be managed by Hancock Forest Management, the organization’s integrated property management group. Hancock Timber has approximately 280,000 acres of timberland under management in Mississippi and Alabama, 1.8 million acres in the US South and almost six million acres globally.
In late 2016, Hancock Timber celebrated the planting of its one billionth tree since the organization’s founding in 1985. At an event in McCloud, California at the McCloud Forest, one of the company’s longest held properties, the one billionth tree was planted and dedicated to the company’s employees, stakeholders, business partners and future generations.
About the Hancock Timber Resource Group
The Hancock Timber Resource Group, founded in 1985, is a division of Hancock Natural Resource Group, Inc., a unit of Manulife Asset Management. Based in Boston, it manages approximately 5.8 million acres of timberland in the United States, Brazil, Chile, Canada, New Zealand and Australia on behalf of investors worldwide. Additional information about Hancock Timber may be found at www.hancocktimber.com.
About Manulife Asset Management
Manulife Asset Management is the global asset management arm of Manulife, providing comprehensive asset management solutions for investors. This investment expertise extends across a broad range of public and private asset classes, as well as asset allocation solutions. As at September 30, 2016, assets under management for Manulife Asset Management were approximately C$450 billion (US$343 billion, GBP£263 billion, EUR€305 billion).
Manulife Asset Management’s public markets units have investment expertise across a broad range of asset classes including public equity and fixed income, and asset allocation strategies. Offices with full investment capabilities are located in the United States, Canada, the United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia, and the Philippines. In addition, Manulife Asset Management has a joint venture asset management business in China, Manulife TEDA. The public markets units of Manulife Asset Management also provide investment management services to affiliates’ retail clients through product offerings of Manulife and John Hancock. John Hancock Asset Management is a division of Manulife Asset Management. Additional information about Manulife Asset Management may be found at ManulifeAM.com.
Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. We operate as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. At the end of 2015, we had approximately 34,000 employees, 63,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of September 2016, we had $966 billion (US$736 billion) in assets under management and administration, and in the previous 12 months we made more than $24.4 billion in benefits, interest and other payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong. Follow Manulife on Twitter @ManulifeNews or visit manulife.com or johnhancock.com.