Timbervest sells 19,700 acres in Georgia, Pennsylvania for $33.9 million

Timbervest LLC sold nearly 20,000 acres of timberland in Georgia and Pennsylvania for $33.9 million.

The Atlanta-based company said the deal included the sale of 18,500 acres in Stewart County, Ga., to an institutional timberland investment group and 1,134 acres in Pennsylvania’s Franklin and Green counties to an undisclosed buyer.

Timbervest currently manages more than 600,000 acres of timberland, timber-related assets and other real estate investments with a market value of more than $1.4 billion.