The 119,000 acre acquisition from the $662m fund brings acreage managed by the firm to 1,875,000.
The merger leaves the REIT as the largest timber owner in the US, with an equity value of $23bn.
The publicly-traded REIT has made a series of acquisitions since the beginning of the quarter.
The alternative assets firm looks to access Asia while sticking to its water-rights strategy.
The firm acquired Pharmaq in 2013 for about €250m and is selling it to Zoetis for $765m.
The acquisition is the second investment by the firm's $893 million Fund IV.
The venture capital firm backed by Korean messenging app giant Daum Kakao is moving into controlled environment farming with its new deal.
The seed distributor will take over Syngenta's research on rye and wheat crossbreed Triticale.
Obvious Ventures, the VC firm set up by Twitter founders Evan Williams and Biz Stone, is understood to be the investor.
Farmer shareholders overwhelmingly approved the sale of half the company to the subsidiary of Chinese state-owned Bright Food in return for a NZ$261m capital injection.