Forestar Group Inc. (NYSE:FOR) announced that it completed its previously announced sale of approximately 50,000 acres of timberland in Georgia and Alabama for $75 million to Plum Creek Timber Company, Inc. Forestar reserved mineral rights and retained an option to acquire the mitigation rights to approximately 1,000 acres for use in mitigation banks.

Forestar Group Inc. operates in three business segments: real estate, mineral resources and fiber resources. At the end of the second quarter 2011, the real estate segment owns directly or through ventures over 217,000 acres of real estate located in nine states and twelve markets in the U.S.
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