Mississippi company expands Inland Northwest timber holdings

A company from Jackson, Mississippi, has purchased nearly 27,000 acres of private timberland in the Inland Northwest.

Molpus Woodlands Group said the acreage is scattered across six North Idaho counties and three counties in Eastern Washington.

The seller was Hancock Timber Resources Group of Boston, according to another company that also bid on the land. Neither Hancock nor Molpus would comment on the seller’s identity.

Hancock owns about 370,000 acres in North Idaho and Eastern Washington.

Molpus has owned timberland in North Idaho since 2013, and has an office in Coeur d’Alene.

According to its website, Molpus buys, manages and sells timberland for pension funds, foundations, insurance companies and individual investors.

The Inland Northwest timberland was attractive to Molpus because of its diverse species mix, nearby sawmills and potential for sales of rural recreational properties, a company spokesman said.

Molpus manages about 1.9 million acres of timberlands in 18 states. The recent purchase brings its North Idaho holdings to 163,000 acres.