July 22, 2014 6:44 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of CatchMark Timber Trust, Inc.

Company Overview

Wells Timberland REIT, Inc., a real estate investment trust (REIT), focuses on the acquisition of timberland properties in the United States. It intends to acquire timberland properties throughout the timber-producing regions of the United States and, to a lesser extent, in timber-producing regions outside the United States. The company intends to qualify as a REIT under the Internal Revenue Code of 1986. Wells Timberland REIT was founded in September 2005. It was formerly known as Wells Real Estate Investment Trust IV, Inc. and changed its name to Wells Timber Real Estate Investment Trust, Inc. in November 2005 and changed to Wells Timberland REIT, Inc. in 2006. The company is headquartered...

5 Concourse Parkway

Suite 2325

Atlanta, GA 30328

United States

Founded in 2005

9 Employees

Phone:

855-858-9794

Key Executives for CatchMark Timber Trust, Inc.

Chief Executive Officer
Age: 55
Total Annual Compensation: $92.8K
Chief Financial Officer
Age: 45
Total Annual Compensation: $56.3K
Chief Operating Officer
Age: 71
Total Annual Compensation: $89.1K
Compensation as of Fiscal Year 2013.

CatchMark Timber Trust, Inc. Key Developments

CatchMark Timber Trust, Inc. Declares Third Quarter Dividend, Payable on September 15, 2014

CatchMark Timber Trust, Inc. declared a $0.125 per share dividend to stockholders of record on August 29, 2014, payable on September 15, 2014. Previously, CatchMark had declared $0.11 per share dividends payable during the first and second quarters of 2014.

CatchMark Timber Trust, Inc. Timberlands II, LLC and Catchmark Timber Operating Partnership, L.P. Enter into Amendments to the Third Amended and Restated Credit Agreement

On May 30, 2014, the CatchMark Timber Trust, Inc., through Timberlands II, LLC and CatchMark Timber Operating Partnership, L.P. entered into a joinder and amendment agreement with CatchMark Texas Timberlands GP, LLC and CatchMark Texas Timberlands, L.P., various other existing loan parties named therein, various financial institutions named therein and CoBank, ACB (CoBank), as administrative agent for the lenders. The Amendment Agreement modifies and amends the Third Amended and Restated Credit Agreement, dated as of December 19, 2013, by and among the Borrowers and CoBank, as administrative agent, lead arranger, and bookrunner, Cooperatieve Centrale Raiffelsen-Boerenleenbank, B.A. (RaboBank), as documentation agent, Agfirst Farm Credit Bank, (Agfirst), as syndication agent, and certain financial institutions, as lenders. The Third Amended Credit Agreement, as amended by the Amendment Agreement, increases the availability under the Company's revolving credit facility by $10 million, from $15 million to $25 million, and the availability under the Company's multi-draw term credit facility by $65 million, from $150 million to $215 million. The Amended Credit Agreement also permits the Company to make six, rather than five, draws under the Multi-Draw Term Facility. In addition, the Amended Credit Agreement provides the Company with greater flexibility to use the proceeds from land sales for general working capital, acquisitions of additional timberland or permitted distributions or other payments. The Company may use proceeds totaling up to 1.5% of the aggregate cost basis of the Company's timberland if the Company's loan-to-value ratio is in excess of 30% but less than 40% and up to 2.0% of the aggregate cost basis if the Company's loan-to-value ratio does not exceed 30%. Finally, the Amended Credit Agreement expands the permitted uses of proceeds under the Revolving Credit Facility to include certain earnest money deposits and acquisitions of domestic timberland of up to $3 million, or $4 million with CoBank's consent. The Amendment Agreement also joins the Texas Entities as loan parties to the Amended Credit Agreement and as grantors under the Second Amended and Restated Security Agreement, dated as of December 19, 2013, made by certain loan parties in favor of CoBank, as administrative agent, for the benefit of itself and the other lenders, and the Second Amended and Restated Pledge Agreement, dated as of December 19, 2013, made by certain loan parties in favor of CoBank, as administrative agent, for the benefit of itself and the other lenders.

CatchMark Timber Trust, Inc. Presents at REITWeek: NAREIT's Investor Forum, Jun-05-2014 11:45 AM

CatchMark Timber Trust, Inc. Presents at REITWeek: NAREIT's Investor Forum, Jun-05-2014 11:45 AM. Venue: Waldorf Astoria New York, 301 Park Avenue, New York, NY 10022, United States. Speakers: Jerry Barag, Chief Executive Officer, President and Director.

Similar Private Companies By Industry

Company Name Region
Sound REIT, Inc. United States
Columbia Real Estate Investments, Inc. United States
Mellon Preferred Capital Corp United States
PPF Pre-REIT LLC United States
NB Capital Trust II United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 7, 2014
Macaslin, Barrow & Henderson LLC, 18,008 Acres of Timberland in Southern Georgia & Northern Florida
Merger/Acquisition
July 7, 2014
Wildwood Timberlands, LLC, 37,663 Acres of Timberland in Middle Georgia
Merger/Acquisition
March 13, 2014
Waycross-Panola Properties
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact CatchMark Timber Trust, Inc., please visit www.catchmark.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.