Rayonier Hires Chris Corr to Lead Real Estate Business


Rayonier Hires Chris Corr to Lead Real Estate Business

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Rayonier (NYS: RYN) today announced that Chris Corr is joining the company as senior vice president, Real Estate and president, TerraPointe Services, Inc. Corr will officially start with Rayonier on July 15. He replaces Charles Margiotta, who retired on June 28, after more than 38 years with the company.

Corr brings a wealth of experience in real estate to Rayonier, most recently serving as executive vice president, Buildings and Places for AECOM, an $8.2 billion provider of global technical and management support services, including real estate planning and development. Prior to joining AECOM, Corr served as executive vice president and chief strategy officer of The St. Joe Company. Earlier in his career, he was a key project leader for Disney, playing a major role in the planning and development of the town of Celebration, Florida.

"We're pleased to have Chris join our senior management team. We are confident that his experience will help Rayonier maximize the return from our unique real estate portfolio as the U.S. economic recovery continues," said Paul Boynton, chairman, president and CEO of Rayonier. "With the rebound we've seen in the real estate market, Chris' development and planning experience and personal network will play a key role in positioning the company for sustained growth in our real estate business. We believe his unique background will help TerraPointe develop a strategic path for Rayonier's real estate portfolio, attract buyers to our entitled and other development properties and build value in our land holdings."

In addition to real estate leadership experience, Corr brings a passion for public service to Rayonier. From 1990-1992, he served as an elected member of the Florida House of Representatives. Corr currently serves on the Board of Trustees of the University of Florida and maintains board positions on the Florida Council of 100 and the Urban Land Institute.

"I'm thrilled to join a world-class organization like Rayonier and look forward to using my experience in real estate to deliver even greater value to our shareholders," said Corr. "The revival of the real estate market increases opportunity for Rayonier to achieve substantial long-term growth in its real estate business and the company has positioned itself well to capitalize on improving markets. Additionally, with 2.4 million acres of existing U.S. timberland and a continually evolving land portfolio, new opportunities to secure value from Rayonier's landholdings are abundant."

Corr holds a Bachelor of Arts degree from the University of Florida and has completed programs with the Harvard Real Estate Institute and the Wharton School of Business at University of Pennsylvania.

About TerraPointe:

TerraPointe LLC, Rayonier Inc.'s real estate subsidiary, executes Rayonier's real estate value creation strategy by acquiring and entitling properties for residential, commercial and industrial uses, master planning and permitting for future communities, and marketing of higher-and-better-use properties. For more information, visitwww.terrapointeserviceslandsales.com.

About Rayonier:

Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.7 million acres of timber and land in the United States and New Zealand. The company's holdings include approximately 200,000 acres with residential and commercial development potential along the Interstate 95 corridor between Savannah, Ga., and Daytona Beach, Fla. Its Performance Fibers business is one of the world's leading producers of high-value specialty cellulose fibers, which are used in products such as filters, pharmaceuticals and LCD screens. Approximately 50 percent of the company's sales are outside the U.S. to customers in approximately 40 countries. Rayonier is structured as a real estate investment trust. More information is available at www.rayonier.com.

Ed Kiker, 904-357-9186
Russell Schweiss, 904-357-9158

KEYWORDS: United States North America Florida


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