The acquisition from an unidentified seller adds to more than $500m invested by the pension across Nuveen-managed vehicles that include properties in the US, Australia, Brazil, Chile and New Zealand.
Paraway Pastoral Company, owned by MAM’s Macquarie Pastoral Fund, will sell Borambil Station, Pier Pier Station and the Burmah Aggregation for a likely A$180m.
CAP managing director George McPherson says Merensky Timber will generate more of its own electricity from wood waste after separating from its parent, which owns Westfalia Fruit International.
Chief executive Kevin Schwartz says ag-related strategics like former AgroFresh parent Dow Chemical remain active buyers and sellers across the food and ag value chain.
Deal creates Oklahoma's first state forest and combats the parcelization of prime timberland, says Conservation Fund senior vice-president Brian Dangler.
The asset manager has also made investments into British greenhouses and a land-based aquaculture system in Norway, as it builds out its food infrastructure assets.