Hancock Timber Resource Group agreed to acquire 412,000 acres of...

Hancock Timber Resource Group agreed to acquire 412,000 acres of Alabama timberland from Alliance Forest Products for $310 million. The purchase is Hancock’s largest of its 52 acquisitions. It includes 372,000 acres currently owned by Alliance as well as the sale of leases on another 40,000 acres. Hancock manages timberland investments for the $160 billion California Public Employees’ Retirement System, Sacramento; $23 billion Public Employees’ Retirement Association of Colorado, Denver; and the $2.1 billion Colorado Fire & Police Pension Association, Englewood.