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
Atlanta, GA 30328
Founded in 2005
CatchMark Timber Trust, Inc. Declares Third Quarter Dividend, Payable on September 15, 2014
Jun 2 14
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
Jun 2 14
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
May 16 14
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.