Rayonier, a timberland real estate investment trust, completed the acquisition of Pope Resources, which owns or manages acres of timberland and development property, for $656m. "The completion of this transaction significantly expands and enhances our Pacific Northwest timberland and real estate portfolio. We’re very excited about the opportunity to integrate our complementary assets and to welcome the Pope employees who will become part of Rayonier. We share compatible cultures and a long history of dedication to value maximization, and we are eager to share best practices and capture synergies across our combined organization," David Nunes, Rayonier President and CEO.