Crescent Communities Completes Sale of Nearly 14,000 Acres of Land in South Carolina to Timberland Investment Firm

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    Client News

  • Date:

    January 06, 2015

Crescent Communities Completes Sale of Nearly 14,000 Acres of Land in South Carolina to Timberland Investment Firm

Client News

CHARLOTTE, N.C. – Crescent Communities, a leading real estate investment and operating firm with approximately 40,000 acres of land in North and South Carolina, has sold its Great Falls land holdings to Blue Heron Timber, LLC, an affiliate of Atlanta-based Timberland Investment Resources, LLC. The parcel includes nearly 14,000 acres of prime timber property in South Carolina’s Chester, Fairfield, Kershaw and Lancaster counties.

“Great Falls has always been an excellent timber market because of its rural setting and proximity to many wood product manufacturing facilities,” said Crescent’s Hank Higgins, vice president of land sales and a Certified Forester and real estate broker. “Interest in Crescent’s unique land holdings has been climbing, and we’re pleased that most of this acreage will continue to be a sustainably-managed forest under its new owners.”

Environmental stewardship and sustainability have always been important to Crescent, and much of the land originally included in the Great Falls division was sold for conservation purposes. Buyers included the South Carolina Department of Natural Resources, Katawba Valley Land Trust for the Heritage Tract and Landsford Canal State Park; Lake Wateree State Park was also established from land previously owned and managed by Crescent.

The Great Falls land division includes 80 tracts totaling nearly 14,000 acres in four counties straddling the Interstate 77 corridor between Charlotte and Columbia. It marks one of the largest single land sales for Crescent since the company was established as a land management and commercial forestry business in 1963.   

“This sale was made possible by the creativity and willingness of both sides to package noncontiguous parcels into one large timber investment,” said Crescent’s Whit Duncan, president of land sales. “Land has always been one of our most precious resources, but this transaction represents a growing trend. Today we’re seeing more buyers turn to the land market both for personal/recreational use and, in this case, for investment purposes.”

Crescent markets select land properties for sale to public entities, conservation groups, retail land buyers, developers, investors and individuals. Currently 54 tracts are available for sale in 12 counties in North and South Carolina. Interest in Crescent’s remaining land tracts in the Carolinas is rapidly increasing due to the location and unique features of the land.

“We have been pleased by the continued rise in interest from buyers with a variety of intended uses for the land, from preservation and conservation to legacy acquisitions, recreational use and development,” Duncan said. “We will continue to identify creative solutions for our prospective buyers.”

About Crescent Communities

Crescent Communities, LLC is a leading real estate investment and operating firm driven to create long-term value by developing thoughtful, sustainable communities that improve people’s lives. Founded in 1963, Crescent’s original mandate as a land management company continues to inform its commitment to the wise stewardship of natural resources. The company finances, plans and develops properties in the Sunbelt and Mid-Atlantic markets that represent more than 50 percent of the U.S. population growth over the next decade. Its multi-product platform includes residential, multifamily, mixed-use, commercial and land assets, valued in total at $1.2 billion. Crescent’s robust capital deployment, seasoned leadership team and model of sustainability enable the company to maximize opportunity in a recovering real estate market.

About Timberland Investment Resources, LLC

Timberland Investment Resources, LLC (TIR) is a timberland investment firm based in Atlanta, Georgia.  The firm acquires and manages timberland investments on behalf of large institutional investors, like pension funds, university endowments and charitable foundations.  Founded in 2004, TIR currently operates hundreds of thousands of acres of working forests for its clients in the U.S. South, Northeast and Lake States.  These lands are managed under the Sustainable Forestry Initiative® framework.

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