The St. Joe Company Announces Sale of a 40,975 Acre Timber Deed to Resource Management Service

The St. Joe Company JOE announced today that it has completed the sale of a 40,975 acre timber deed to an investment fund managed by Resource Management Service (“RMS”) for a price of $55.9 million. Under the terms of the timber deed, RMS has the right to harvest or sell the standing timber on specified stands for a period of up to 20 years. The ages of the timber deed stands range from 15 to 30 years, and are located in Gulf and Calhoun counties, Florida. As individual tracts of land are released by RMS following final harvest, the use of the land reverts immediately back to St. Joe for subsequent reforestation and ongoing timber production, rural land sales, or real estate development.