Document_and_Entity_Informatio
| Document and Entity Information | 9 Months Ended | |
| Sep. 30, 2014 | Oct. 31, 2014 | |
| Document and Entity Information [Abstract] | ' | ' |
| Entity Registrant Name | 'CatchMark Timber Trust, Inc. | ' |
| Entity Central Index Key | '0001341141 | ' |
| Current Fiscal Year End Date | '--12-31 | ' |
| Entity Filer Category | 'Non-accelerated Filer | ' |
| Document Type | '10-Q | ' |
| Document Period End Date | 30-Sep-14 | ' |
| Document Fiscal Year Focus | '2014 | ' |
| Document Fiscal Period Focus | 'Q3 | ' |
| Amendment Flag | 'false | ' |
| Entity Common Stock, Shares Outstanding | ' | 39,360,598 |
Consolidated_Balance_Sheets
| Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
| Assets: | ' | ' |
| Cash and cash equivalents | $45,963,291 | $8,613,907 |
| Accounts receivable | 767,605 | 593,546 |
| Prepaid expenses and other assets | 6,653,315 | 2,506,470 |
| Deferred financing costs, less accumulated amortization of $180,739 and $9,633 as of September 30, 2014 and December 31, 2013, respectively | 1,881,745 | 1,483,547 |
| Timber assets, at cost (Note 3): | ' | ' |
| Timber and timberlands, net | 401,005,572 | 325,726,398 |
| Intangible lease assets, less accumulated amortization of $930,093 and $927,451 as of September 30, 2014 and December 31, 2013, respectively | 26,993 | 29,634 |
| Total assets | 456,298,521 | 338,953,502 |
| Liabilities: | ' | ' |
| Accounts payable and accrued expenses | 3,305,451 | 3,127,857 |
| Other liabilities | 4,774,481 | 3,734,193 |
| Note payable and line of credit (Note 4) | 0 | 52,160,000 |
| Total liabilities | 8,079,932 | 59,022,050 |
| Commitments and Contingencies (Note 6) | 0 | 0 |
| Stockholders’ Equity: | ' | ' |
| Additional paid-in capital | 612,428,979 | 432,117,205 |
| Accumulated deficit and distributions | -164,603,995 | -152,688,059 |
| Accumulated other comprehensive income | 0 | 268,368 |
| Total stockholders’ equity | 448,218,589 | 279,931,452 |
| Total liabilities and stockholders’ equity | 456,298,521 | 338,953,502 |
| Common Class A | ' | ' |
| Stockholders’ Equity: | ' | ' |
| Common stock, $0.01 par value | 330,316 | 139,004 |
| Common Class B-1 | ' | ' |
| Stockholders’ Equity: | ' | ' |
| Common stock, $0.01 par value | 0 | 31,645 |
| Common Class B-2 | ' | ' |
| Stockholders’ Equity: | ' | ' |
| Common stock, $0.01 par value | 31,645 | 31,645 |
| Common Class B-3 | ' | ' |
| Stockholders’ Equity: | ' | ' |
| Common stock, $0.01 par value | $31,644 | $31,644 |
Consolidated_Balance_Sheets_Pa
| Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
| Deferred financing cost, accumulated amortization | $180,739 | $9,633 |
| Intangible lease assets, accumulated amortization | $930,093 | $927,451 |
| Common Class A | ' | ' |
| Common stock, par value | $0.01 | $0.01 |
| Common stock, shares authorized | 889,500,000 | 889,500,000 |
| Common stock, shares issued | 33,031,646 | 13,900,382 |
| Common stock, shares outstanding | 33,031,646 | 13,900,382 |
| Common Class B-1 | ' | ' |
| Common stock, par value | $0.01 | $0.01 |
| Common stock, shares authorized | 3,500,000 | 3,500,000 |
| Common stock, shares issued | 0 | 3,164,483 |
| Common stock, shares outstanding | 0 | 3,164,483 |
| Common Class B-2 | ' | ' |
| Common stock, par value | $0.01 | $0.01 |
| Common stock, shares authorized | 3,500,000 | 3,500,000 |
| Common stock, shares issued | 3,164,476 | 3,164,483 |
| Common stock, shares outstanding | 3,164,476 | 3,164,483 |
| Common Class B-3 | ' | ' |
| Common stock, par value | $0.01 | $0.01 |
| Common stock, shares authorized | 3,500,000 | 3,500,000 |
| Common stock, shares issued | 3,164,476 | 3,164,483 |
| Common stock, shares outstanding | 3,164,476 | 3,164,483 |
Consolidated_Statements_of_Ope
| Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
| Revenues: | ' | ' | ' | ' |
| Timber sales | $11,392,016 | $6,427,654 | $29,662,066 | $19,846,750 |
| Timberland sales | 485,630 | 645,436 | 1,575,419 | 2,498,757 |
| Other revenues | 775,704 | 784,156 | 2,186,551 | 2,151,949 |
| Total revenues | 12,653,350 | 7,857,246 | 33,424,036 | 24,497,456 |
| Expenses: | ' | ' | ' | ' |
| Contract logging and hauling costs | 4,472,042 | 3,153,943 | 12,425,591 | 10,198,051 |
| Depletion | 4,856,898 | 1,941,548 | 10,389,952 | 6,234,805 |
| Cost of timberland sales | 344,893 | 401,858 | 1,185,413 | 1,745,010 |
| Forestry management expenses | 857,346 | 567,444 | 2,363,281 | 1,713,306 |
| General and administrative expenses | 1,438,195 | 2,543,956 | 4,213,859 | 6,334,696 |
| Land rent expense | 210,635 | 242,301 | 616,428 | 810,253 |
| Other operating expenses | 749,590 | 585,445 | 2,075,640 | 1,854,919 |
| Operating costs and expenses | 12,929,599 | 9,436,495 | 33,270,164 | 28,891,040 |
| Operating income (loss) | -276,249 | -1,579,249 | 153,872 | -4,393,584 |
| Other income (expense): | ' | ' | ' | ' |
| Interest income | 175,234 | 669 | 176,861 | 2,668 |
| Interest expense | -662,083 | -949,323 | -1,831,290 | -2,687,170 |
| Loss on interest rate swap | 0 | 0 | 0 | -474 |
| Total other income (expense) | -486,849 | -948,654 | -1,654,429 | -2,684,976 |
| Net loss | -763,098 | -2,527,903 | -1,500,557 | -7,078,560 |
| Dividends to preferred stockholder | 0 | -93,990 | 0 | -279,093 |
| Net loss available to common stockholders | ($763,098) | ($2,621,893) | ($1,500,557) | ($7,357,653) |
| Weighted-average common shares outstanding —basic and diluted | 36,873,634 | 12,696,755 | 28,941,624 | 12,705,791 |
| Per-share information—basic and diluted: | ' | ' | ' | ' |
| Net loss available to common stockholders | ($0.02) | ($0.21) | ($0.05) | ($0.58) |
| Cash dividends declared per common share | $0 | $0 | $0.24 | $0 |
Consolidated_Statements_of_Com
| Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
| Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
| Net loss | ($763,098) | ($2,527,903) | ($1,500,557) | ($7,078,560) |
| Other comprehensive income (loss): | ' | ' | ' | ' |
| Market value adjustment to interest rate swap | -88,477 | -423,280 | -268,368 | 1,126,174 |
| Comprehensive loss | ($851,575) | ($2,951,183) | ($1,768,925) | ($5,952,386) |
Consolidated_Statements_of_Sto
| Consolidated Statements of Stockholders' Equity (USD $) | Total | Preferred Stock | Additional Paid-in Capital | Accumulated Deficit and Distributions | Accumulated Other Comprehensive Income (Loss) | Common Class A | Common Class A | Common Class B |
| USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Common Stock | Common Stock | ||
| USD ($) | USD ($) | |||||||
| Stockholders' equity, beginning of year at Dec. 31, 2012 | $210,087,189 | $48,600,055 | $301,538,949 | ($139,491,344) | ($687,674) | ' | $31,801 | $95,402 |
| Stockholders' equity, beginning of year (in shares) at Dec. 31, 2012 | ' | 37,392 | ' | ' | ' | ' | 3,180,063 | 9,540,188 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
| Long-term incentive plan (in shares) | ' | ' | ' | ' | ' | ' | 300 | 900 |
| Long-term incentive plan | 36,666 | ' | 36,654 | ' | ' | ' | 3 | 9 |
| Forfeiture of restricted stock award (in shares) | ' | ' | ' | ' | ' | ' | -202 | -606 |
| Forfeiture of restricted stock award | 0 | ' | -197 | 205 | ' | ' | -2 | -6 |
| Redemption of common stocks (in shares) | ' | ' | ' | ' | ' | ' | -7,707 | -23,122 |
| Redemption of common stock | -480,155 | ' | -479,847 | ' | ' | ' | -77 | -231 |
| Dividends on preferred stock | 0 | 279,093 | -279,093 | ' | ' | ' | ' | ' |
| Net loss | -7,078,560 | ' | ' | -7,078,560 | ' | ' | ' | ' |
| Market value adjustment on interest rate swap | 1,126,174 | ' | ' | ' | 1,126,174 | ' | ' | ' |
| Stockholders' equity, end of year at Sep. 30, 2013 | 203,691,314 | 48,879,148 | 300,816,466 | -146,569,699 | 438,500 | ' | 31,725 | 95,174 |
| Stockholders' equity, end of year (in shares) at Sep. 30, 2013 | ' | 37,392 | ' | ' | ' | ' | 3,172,454 | 9,517,360 |
| Stockholders' equity, beginning of year at Dec. 31, 2013 | 279,931,452 | 0 | 432,117,205 | -152,688,059 | 268,368 | ' | 139,004 | 94,934 |
| Stockholders' equity, beginning of year (in shares) at Dec. 31, 2013 | ' | 0 | ' | ' | ' | ' | 13,900,382 | 9,493,449 |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
| Stock issued during period (in shares) | ' | ' | ' | ' | ' | ' | 15,953,947 | 0 |
| Listed Public Offerings | 190,222,034 | ' | 190,062,495 | ' | ' | ' | 159,539 | 0 |
| Long-term incentive plan (in shares) | ' | ' | ' | ' | ' | ' | 12,848 | 0 |
| Long-term incentive plan | 290,786 | ' | 290,658 | ' | ' | ' | 128 | 0 |
| Redemption of common stocks (in shares) | ' | ' | ' | ' | ' | ' | -7.154 | -21 |
| Redemption of common stock | -370 | ' | -370 | ' | ' | ' | 0 | 0 |
| Conversion to Class A Shares (in shares) | 0 | ' | ' | ' | ' | ' | 3,164,476 | -3,164,476 |
| Conversion to Class A Shares | ' | ' | ' | ' | ' | ' | 31,645 | -31,645 |
| Dividends to common stockholders ($0.345 per share) | -10,415,379 | ' | ' | -10,415,379 | ' | ' | ' | ' |
| Stock issuance cost | -10,041,009 | ' | -10,041,009 | ' | ' | ' | ' | ' |
| Net loss | -1,500,557 | ' | ' | -1,500,557 | ' | ' | ' | ' |
| Market value adjustment on interest rate swap | -268,368 | ' | ' | ' | -268,368 | ' | ' | ' |
| Stockholders' equity, end of year at Sep. 30, 2014 | $448,218,589 | $0 | $612,428,979 | ($164,603,995) | $0 | ' | $330,316 | $63,289 |
| Stockholders' equity, end of year (in shares) at Sep. 30, 2014 | ' | 0 | ' | ' | ' | ' | 33,031,646 | 6,328,952 |
Consolidated_Statements_of_Sto1
| Consolidated Statements of Stockholders' Equity (unaudited) (Parenthetical) (USD $) | 9 Months Ended |
| Sep. 30, 2014 | |
| Statement of Stockholders' Equity [Abstract] | ' |
| Cash dividends declared per common share | $0.35 |
Consolidated_Statements_of_Cas
| Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
| Sep. 30, 2014 | Sep. 30, 2013 | |
| Cash Flows from Operating Activities: | ' | ' |
| Net loss | ($1,500,557) | ($7,078,560) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
| Depletion | 10,389,952 | 6,234,805 |
| Unrealized gain on interest rate swaps | 0 | -128,934 |
| Other amortization | 68,044 | 136,142 |
| Stock-based compensation expense | 284,536 | 36,666 |
| Noncash interest expense | 586,452 | 182,848 |
| Basis of timberland sold | 1,042,623 | 1,569,543 |
| Changes in assets and liabilities: | ' | ' |
| (Increase) Decrease in accounts receivable | -174,059 | 63,794 |
| Decrease in prepaid expenses and other assets | 830,421 | 200,586 |
| Increase in accounts payable and accrued expenses | 177,594 | 1,735,091 |
| Decrease in due to affiliates | 0 | -1,016,255 |
| Increase in other liabilities | 1,019,739 | 481,949 |
| Net cash provided by operating activities | 12,724,745 | 2,417,675 |
| Cash Flows from Investing Activities: | ' | ' |
| Capital expenditures (excluding timberland acquisitions) | -590,148 | -411,586 |
| Timberland acquisitions | -91,325,405 | -1,742,009 |
| Furniture and equipment | -100,983 | -1,537 |
| Funds released from escrow accounts | 0 | 762,862 |
| Net cash (used in) investing activities | -92,016,536 | -1,392,270 |
| Cash Flows from Financing Activities: | ' | ' |
| Proceeds from note payable | 86,500,000 | 0 |
| Repayments of note payable | -138,660,000 | 0 |
| Financing costs paid | -964,101 | -43,653 |
| Issuance of common stock | 190,222,034 | 0 |
| Dividends paid to common stockholders | -10,415,379 | 0 |
| Stock issuance costs | -10,041,009 | -542,846 |
| Redemptions of common stock | -370 | -480,155 |
| Net cash provided by (used in) financing activities | 116,641,175 | -1,066,654 |
| Net increase (decrease) in cash and cash equivalents | 37,349,384 | -41,249 |
| Cash and cash equivalents, beginning of period | 8,613,907 | 11,221,092 |
| Cash and cash equivalents, end of period | $45,963,291 | $11,179,843 |
Organization
| Organization | 9 Months Ended | |
| Sep. 30, 2014 | ||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
| Organization | ' | |
| 1 | Organization | |
| CatchMark Timber Trust Inc. ("CatchMark Timber Trust"), formerly known as Wells Timberland REIT, Inc., primarily engages in the ownership, management, acquisition, and disposition of timberlands located in the southeastern United States and has elected to be taxed as a real estate investment trust ("REIT") for federal income tax purposes. CatchMark Timber Trust was incorporated in Maryland in 2005 and commenced operations in 2007. CatchMark Timber Trust conducts substantially all of its business through CatchMark Timber Operating Partnership, L.P. (“CatchMark Timber OP”), a Delaware limited partnership formerly known as Wells Timberland Operating Partnership, L.P. CatchMark Timber Trust is the general partner of CatchMark Timber OP, possesses full legal control and authority over its operations, and owns 99.99% of its common partnership units. CatchMark LP Holder, LLC (“CatchMark LP Holder”), a wholly owned subsidiary of CatchMark Timber Trust, is the sole limited partner of CatchMark Timber OP. In addition, CatchMark Timber TRS, Inc. (“CatchMark TRS”), a Delaware corporation formerly known as Wells Timberland TRS, Inc., was formed as a wholly owned subsidiary of CatchMark Timber OP on January 1, 2006. Unless otherwise noted, references herein to CatchMark Timber Trust shall include CatchMark Timber Trust and all of its subsidiaries, including CatchMark Timber OP, and the subsidiaries of CatchMark Timber OP, including CatchMark TRS. | ||
| CatchMark Timber Trust generates recurring income and cash flow from the harvest and sale of timber, as well as from non-timber related revenue sources, such as recreational leases. CatchMark Timber Trust also periodically generates income and cash flow from the sale of timberland properties that have a higher-value use beyond growing timber, such as properties that can be sold for development, conservation, recreational or other rural purposes at prices in excess of traditional timberland values. CatchMark Timber Trust expects to realize additional long-term returns from the potential appreciation in value of its timberlands as well as from the potential biological growth of its standing timber inventory in excess of its timber harvest. | ||
Summary_of_Significant_Account
| Summary of Significant Accounting Policies | 9 Months Ended |
| Sep. 30, 2014 | |
| Accounting Policies [Abstract] | ' |
| Summary of Significant Accounting Policies | ' |
| Summary of Significant Accounting Policies | |
| Basis of Presentation and Principles of Consolidation | |
| The consolidated financial statements of CatchMark Timber Trust have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and shall include the accounts of any variable interest entity (“VIE”) in which the Company or its subsidiaries is deemed the primary beneficiary. With respect to entities that are not VIEs, CatchMark Timber Trust’s consolidated financial statements shall also include the accounts of any entity in which CatchMark Timber Trust or its subsidiaries owns a controlling financial interest and any limited partnership in which CatchMark Timber Trust or its subsidiaries owns a controlling general partnership interest. In determining whether a controlling interest exists, CatchMark Timber Trust considers, among other factors, the ownership of voting interests, protective rights, and participatory rights of the investors. | |
| CatchMark Timber Trust owns a controlling financial interest in CatchMark Timber OP, CatchMark LP Holder and CatchMark TRS and, accordingly, includes the accounts of these entities in its consolidated financial statements. The financial statements of CatchMark Timber OP, CatchMark LP Holder and CatchMark TRS are prepared using accounting policies consistent with those used by CatchMark Timber Trust. All intercompany balances and transactions have been eliminated in consolidation. | |
| For further information, refer to the audited financial statements and footnotes included in CatchMark Timber Trust’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
| Fair Value Measurements | |
| CatchMark Timber Trust estimates the fair value of its assets and liabilities (where currently required under GAAP) consistent with the provisions of the accounting standard for fair value measurements and disclosures. Under this guidance, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. While various techniques and assumptions can be used to estimate fair value depending on the nature of the asset or liability, the accounting standard for fair value measurements and disclosures provides the following fair value technique parameters and hierarchy, depending upon availability: | |
| Level 1 — Assets or liabilities for which the identical term is traded on an active exchange, such as publicly-traded instruments or futures contracts. | |
| Level 2 — Assets and liabilities valued based on observable market data for similar instruments. | |
| Level 3 — Assets or liabilities for which significant valuation assumptions are not readily observable in the market. Such assets or liabilities are valued based on the best available data, some of which may be internally developed. Significant assumptions may include risk premiums that a market participant would require. | |
| Interest Rate Swaps | |
| CatchMark Timber Trust enters into interest rate swap contracts to mitigate its exposure to changing interest rates on variable rate debt instruments. CatchMark Timber Trust does not enter into derivative or interest rate transactions for speculative purposes; however, certain of its derivatives may not qualify for hedge accounting treatment. The fair values of interest rate swaps are recorded as either prepaid expenses and other assets or other liabilities in the accompanying consolidated balance sheets. Changes in the fair value of the effective portion of interest rate swaps that are designated as hedges are recorded as other comprehensive income (loss), while changes in the fair value of the ineffective portion of hedges, if any, are recognized in current earnings. Changes in the fair value of interest rate swaps that do not qualify for hedge accounting treatment are recorded as gain (loss) on interest rate swap in the consolidated statements of operations. Amounts received or paid under interest rate swaps are recorded as interest expense for contracts that qualify for hedge accounting treatment and as gain (loss) on interest rate swaps for contracts that do not qualify for hedge accounting treatment. | |
| CatchMark Timber Trust applied the provisions of the accounting standard for fair value measurements and disclosures in recording its interest rate swaps at fair value. The fair values of interest rate swaps, classified under Level 2, were determined using a third-party proprietary model that is based on prevailing market data for contracts with matching durations, current and anticipated London Interbank Offered Rate ("LIBOR") information, consideration of CatchMark Timber Trust's credit standing, credit risk of counterparties, and reasonable estimates about relevant future market conditions. | |
| CatchMark Timber Trust had an interest rate swap that became effective on March 28, 2013. On July 18, 2014, CatchMark Timber Trust terminated the interest rate swap agreement. As of September 30, 2014, there is no interest rate swap outstanding. For additional information about CatchMark Timber Trust's interest rate swaps see Note 5 – Interest Rate Swap Agreement. | |
| Earnings Per Share | |
| Basic earnings (loss) per share available to common stockholders is calculated as net income (loss) available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Weighted-average number of common shares information presented in the accompanying consolidated statements of operations is retroactively adjusted for all periods presented to reflect the impact of a recapitalization transaction (see Note 7 - Stockholders' Equity). Net income (loss) available to common stockholders is calculated as net income (loss) less dividends payable to or accumulated to preferred stockholders. Diluted earnings (loss) per share available to common stockholders equals basic earnings per share available to common stockholders, adjusted to reflect the dilution that would occur if all outstanding securities convertible into common shares or contracts to issue common shares were converted or exercised and the related proceeds are then used to repurchase common shares. Basic and diluted earnings (loss) per share were the same for all periods presented as the dilutive effect of outstanding securities was immaterial. | |
| Income Taxes | |
| CatchMark Timber Trust has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), and has operated as such beginning with its taxable year ended December 31, 2009. To qualify to be taxed as a REIT, CatchMark Timber Trust must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income to its stockholders. As a REIT, CatchMark Timber Trust generally is not subject to federal income tax on taxable income it distributes to stockholders. CatchMark Timber Trust is subject to certain state and local taxes related to the operations of timberland properties in certain locations, which have been provided for in the accompanying consolidated financial statements. CatchMark Timber Trust records interest and penalties related to uncertain tax positions as general and administrative expense in the accompanying consolidated statements of operations. | |
| CatchMark Timber Trust has elected to treat CatchMark Timber Trust TRS as a taxable REIT subsidiary. CatchMark Timber Trust may perform certain non-customary services, including real estate or non-real-estate related services, through CatchMark Timber Trust TRS. Earnings from services performed through CatchMark Timber Trust TRS are subject to federal and state income taxes irrespective of the dividends paid deduction available to REITs for federal income tax purposes. In addition, for CatchMark Timber Trust to continue to qualify to be taxed as a REIT, CatchMark Timber Trust’s investment in CatchMark Timber Trust TRS may not exceed 25% of the value of the total assets of CatchMark Timber Trust. | |
| Deferred tax assets and liabilities represent temporary differences between the financial reporting basis and the tax basis of assets and liabilities based on the enacted rates expected to be in effect when the temporary differences reverse. Deferred tax expense or benefit is recognized in the financial statements according to the changes in deferred tax assets or liabilities between years. Valuation allowances are established to reduce deferred tax assets when it becomes more likely than not that such assets, or portions thereof, will not be realized. | |
| No provision for federal income taxes has been made in the accompanying consolidated financial statements, other than the provision relating to CatchMark Timber Trust TRS, as CatchMark Timber Trust did not generate taxable income for the periods presented. | |
| Reclassification | |
| Certain prior period amounts have been reclassified to conform with the current period's financial statement presentation. Advisor fees and expense reimbursements incurred in 2013 were previously included in a separate line item and are now included in general and administrative expenses for the respective periods in the accompanying consolidated statement of operations. | |
| Recent Accounting Pronouncements | |
| In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2013-11, Income Taxes: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11"). ASU 2013-11 requires an entity to present an unrecognized tax benefit in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date or not intended to be used to settle any additional income taxes that would result in the dis-allowance of a tax position in which case the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 became effective for CatchMark Timber Trust for the period beginning on January 1, 2014. The adoption of ASU 2013-11 did not have a material impact on CatchMark Timber Trust's financial statements or disclosures. | |
| In May 2014, FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). Under this guidance, an entity is required to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the expected consideration for those goods or services. ASU 2014-09 is effective beginning in fiscal 2017 and can be adopted either retrospectively or as a cumulative-effect adjustment as of the date of adoption. CatchMark Timber Trust is currently evaluating the effect that adopting this new accounting guidance will have on its financial statements or disclosures. |
Timber_Assets
| Timber Assets | 9 Months Ended | |||||||||||
| Sep. 30, 2014 | ||||||||||||
| Property, Plant and Equipment [Abstract] | ' | |||||||||||
| Timber Assets | ' | |||||||||||
| Timber Assets | ||||||||||||
| As of September 30, 2014 and December 31, 2013, timber and timberlands consisted of the following, respectively: | ||||||||||||
| As of September 30, 2014 | ||||||||||||
| Gross | Accumulated | Net | ||||||||||
| Depletion or | ||||||||||||
| Amortization | ||||||||||||
| Timber | $ | 181,429,182 | $ | 10,389,952 | $ | 171,039,230 | ||||||
| Timberlands | 229,691,394 | — | 229,691,394 | |||||||||
| Mainline roads | 570,396 | 295,448 | 274,948 | |||||||||
| Timber and timberlands | $ | 411,690,972 | $ | 10,685,400 | $ | 401,005,572 | ||||||
| As of December 31, 2013 | ||||||||||||
| Gross | Accumulated | Net | ||||||||||
| Depletion or | ||||||||||||
| Amortization | ||||||||||||
| Timber | $ | 149,859,173 | $ | 8,505,024 | $ | 141,354,149 | ||||||
| Timberlands | 184,114,333 | — | 184,114,333 | |||||||||
| Mainline roads | 498,237 | 240,321 | 257,916 | |||||||||
| Timber and timberlands | $ | 334,471,743 | $ | 8,745,345 | $ | 325,726,398 | ||||||
| During the nine months ended September 30, 2014, CatchMark Timber Trust acquired the following timberland properties: | ||||||||||||
| Property Name | State(s) | Date of Acquisition | Acres | Purchase Price | ||||||||
| exclusive of closing costs | ||||||||||||
| (in millions) | ||||||||||||
| Browder property | Georgia | February 20, 2014 | 202 | $ | 0.2 | |||||||
| Waycross - Panola properties | Georgia / Texas | April 11, 2014 | 36,320 | 73.7 | ||||||||
| Upson property | Georgia | April 29, 2014 | 958 | 1.6 | ||||||||
| Clinch property | Georgia | May 30, 2014 | 7,044 | 10 | ||||||||
| Total | 44,524 | $ | 85.5 | |||||||||
| During the three months and nine months ended September 30, 2013, CatchMark Timber Trust acquired a fee simple interest in approximately 1,800 acres of timberland located in Taylor County, Georgia, in which it previously held a leasehold interest, for $1.4 million, exclusive of closing costs. | ||||||||||||
| During the three months ended September 30, 2014 and 2013, CatchMark Timber Trust sold approximately 210 and 300 acres of timberland, respectively, for $0.5 million and $0.6 million, respectively. CatchMark Timber Trust's cost basis in the timberland sold was $0.3 million and $0.4 million, respectively. | ||||||||||||
| During the nine months ended September 30, 2014 and 2013, CatchMark Timber Trust sold approximately 780 and 1200 acres of timberland, respectively, for $1.6 million and $2.5 million, respectively. CatchMark Timber Trust's cost basis in the timberland sold was $1.0 million and $1.6 million, respectively. | ||||||||||||
| As of September 30, 2014, CatchMark Timber Trust owned interests in approximately 320,200 acres of timberlands in Georgia, Alabama, and Texas; 290,600 acres of which were held in fee-simple interests and 29,600 acres were held in leasehold interests. | ||||||||||||
Note_Payable_and_Line_of_Credi
| Note Payable and Line of Credit | 9 Months Ended | |
| Sep. 30, 2014 | ||
| Debt Disclosure [Abstract] | ' | |
| Note Payable and Line of Credit | ' | |
| Note Payable and Line of Credit | ||
| Credit Agreements | ||
| On December 19, 2013, CatchMark Timber Trust entered into a third amended and restated credit agreement with a syndicate of banks with CoBank, ACB (“CoBank”) serving as the administrative agent (the "Amended CoBank Agreement"). The Amended CoBank Agreement amended and restated in its entirety the existing senior credit agreement dated as of September 28, 2012. | ||
| The Amended CoBank Agreement provided for borrowing under credit facilities consisting of: | ||
| • | a $15.0 million revolving credit facility (the “Revolving Credit Facility”); | |
| • | a $150.0 million multi-draw term credit facility (the “Multi-Draw Term Facility”); and | |
| • | the remaining amount outstanding under the original CoBank term loan (the “Term Loan Facility”, and together with the Revolving Credit Facility and the Multi-Draw Term Facility, the “CTT Credit Facilities”), which was $52.2 million. | |
| The Amended CoBank Agreement provided that the CTT Credit Facilities may be increased, upon the agreement of lenders willing to increase their loans, by up to $75.0 million, consisting of up to a $10.0 million increase in the Revolving Credit Facility and the remainder available under the Multi-Draw Term Facility. | ||
| Borrowings under the Revolving Credit Facility may be used for working capital, to support letters of credit and other general corporate purposes, but may not be used for timber acquisitions. The Revolving Credit Facility bears interest at an adjustable rate equal to a base rate plus between 0.50% and 1.75% or one-month LIBOR rate plus between 1.50% and 2.75%, in each case depending on CatchMark Timber Trust's loan-to-collateral-value ratio (the "LTV Ratio") and will terminate and all amounts under the facility will be due and payable on December 19, 2018. | ||
| The Multi-Draw Term Facility may be drawn upon up to five times during the period beginning on December 19, 2013 through December 19, 2016 and may be used to finance domestic timber acquisitions and associated expenses. Amounts repaid under the Multi-Draw Term Facility may be re-borrowed prior to the third anniversary of the closing date. The Multi-Draw Term Facility bears interest at an adjustable rate equal to a base rate plus between 0.75% and 2.00% or a LIBOR rate plus between 1.75% and 3.00%, in each case depending on the LTV Ratio, and will terminate and all amounts under the Multi-Draw Term Facility will be due and payable on December 19, 2020. The Multi-Draw Term Facility is interest only until the maturity date; however, beginning on December 31, 2016, if CatchMark Timber Trust’s LTV Ratio is equal to or in excess of 35%, then principal payments will be required to be made at a per annum rate of 7.50% of the principal amount outstanding under the Multi-Draw Term Facility. | ||
| The Term Loan Facility bears interest at an adjustable rate equal to a base rate plus between 0.50% and 1.75% or a LIBOR rate plus between 1.50% and 2.75%, in each case depending on CatchMark Timber Trust’s LTV Ratio, and will terminate and all amounts under the Term Loan Facility will be due and payable on December 19, 2018. | ||
| CatchMark Timber Trust pays the lenders an unused commitment fee on the unused portion of the Multi-Draw Term Facility and Revolving Credit Facility, at an adjustable rate ranging from 0.20% to 0.35%, depending on the LTV Ratio. | ||
| The CTT Credit Facilities are secured by a first mortgage in the CatchMark Timber Trust's timberlands, a first priority security interest in most bank accounts held by CatchMark Timber Trust, and a first priority security interest on all other assets of CatchMark Timber Trust. In addition, CatchMark Timber Trust’ obligations under the Amended CoBank Agreement are guaranteed by its subsidiaries. | ||
| On May 30, 2014, CatchMark Timber Trust entered into a joinder and amendment agreement which modified and amended the Amended CoBank Agreement, by increasing the availability under the Revolving Credit Facility by $10.0 million, from $15.0 million to $25.0 million, and the availability under the Multi-Draw Term Facility by $65.0 million, from $150.0 million to $215.0 million ("the Amended Credit Agreement"). The Amended Credit Agreement also permits CatchMark Timber Trust to make six, rather than five, draws under the Multi-Draw Term Facility. In addition, the Amended Credit Agreement provides CatchMark Timber Trust with greater flexibility to use the proceeds from land sales for general working capital, acquisitions of additional timberland, or permitted distributions or other payments. CatchMark Timber Trust may use proceeds totaling up to 1.5% of the aggregate cost basis of its timberland if its LTV Ratio is between 30% and 40% and up to 2.0% of the aggregate cost basis if its LTV Ratio does not exceed 30%. Finally, the Amended Credit Agreement expanded the permitted uses of proceeds under the Revolving Credit Facility to include certain earnest money deposits and acquisitions of domestic timberland of up to $3.0 million for a single transaction or $4.0 million in aggregate. | ||
| The Amended Credit Agreement contains, among others, the following financial covenants: | ||
| • | limits the LTV Ratio to 45% at the end of each fiscal quarter and upon the sale or acquisition of any property; and | |
| • | requires a minimum liquidity balance of $10.0 million until the date that CatchMark Timber Trust has achieved a fixed charge coverage ratio of not less than 1.05:1.00, provided that this date is no earlier than September 30, 2014 and no later than June 30, 2015; after such date CatchMark Timber Trust must maintain a fixed coverage charge ratio of not less than 1.05:1.00. | |
| CatchMark Timber Trust was in compliance with the financial covenants of the Amended Credit Agreement as of September 30, 2014. | ||
| Debt Proceeds and Repayments | ||
| On January 9, 2014, CatchMark Timber Trust paid down its Term Loan Facility by $18.2 million using proceeds from the initial listed public offering (see Note 7 - Stockholders' Equity). | ||
| On April 11, 2014, CatchMark Timber Trust borrowed $76.0 million under its Multi-Draw Term Facility to fund the acquisition of the Waycross-Panola properties (see Note 3 - Timber Assets) and associated expenses. On April 30, 2014, CatchMark Timber Trust paid down the Multi-Draw Term Facility by $1.6 million. | ||
| On May 30, 2014, CatchMark Timber Trust borrowed $10.5 million under its Multi-Draw Term Facility to fund the purchase of the Clinch property (see Note 3 - Timber Assets). On June 27, 2014, CatchMark Timber Trust paid down the Multi-Draw Term Facility by $0.4 million. | ||
| On July 16, 2014, CatchMark Timber Trust paid off the remaining $34.0 million under its Term Loan Facility and $84.5 million under its Multi-Draw Term Facility with proceeds received from its follow-on listed public offering (see Note 7 - Stockholders' Equity). As a result of the debt payoff, CatchMark Timber Trust expensed the remaining $0.4 million in deferred financing costs related to the Term Loan Facility. The amount was recorded as interest expense. | ||
| As of September 30, 2014, no amount was outstanding under the CTT Credit Facilities. | ||
| Interest Paid | ||
| During the three months ended September 30, 2014 and 2013, CatchMark Timber Trust made interest payments of $0.3 million and $0.8 million, respectively, on its borrowings. During the nine months ended September 30, 2014 and 2013, interest payments on its borrowings totaled $1.1 million and $2.3 million, respectively. Included in the interest payments for the three months and nine months ended September 30, 2014 were unused commitment fees of $0.1 million and $0.3 million, respectively. | ||
Interest_Rate_Swap_Agreement
| Interest Rate Swap Agreement | 9 Months Ended |
| Sep. 30, 2014 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
| Interest Rate Swaps | ' |
| Interest Rate Swap Agreement | |
| During the nine months ended September 30, 2014, CatchMark Timber Trust used one interest rate swap agreement with a notional amount of $33.0 million to hedge its exposure to changing interest rates on its variable rate debt (the “Rabobank Swap”). The Rabobank Swap became effective on March 28, 2013 and was maturing on September 30, 2017. Under the terms of the Rabobank Swap, CatchMark Timber Trust pays interest at a fixed rate of 0.9075% per annum to Rabobank and receives one-month LIBOR-based interest payments from Rabobank. The Rabobank Swap qualifies for hedge accounting treatment. | |
| During the nine months ended September 30, 2014, CatchMark Timber Trust recognized a change in fair value of the Rabobank Swap of approximately $0.3 million as other comprehensive income. There was no hedge ineffectiveness on the Rabobank Swap required to be recognized in current earnings. Net payments of approximately $0.1 million made under the Rabobank Swap by CatchMark Timber Trust during the nine months ended September 30, 2014 was recorded as interest expense. | |
| As a result of the payoff of its indebtedness under Amended Credit Agreement (see Note 4 - Notes Payable and Line of Credit), on July 18, 2014, CatchMark Timber Trust terminated the RaboBank Swap and received a payment of approximately $0.2 million from Rabobank, which was recorded as interest income in the accompanying consolidated statements of operations. |
Commitments_and_Contingencies
| Commitments and Contingencies | 9 Months Ended |
| Sep. 30, 2014 | |
| Commitments and Contingencies Disclosure [Abstract] | ' |
| Commitments and Contingencies | ' |
| Commitments and Contingencies | |
| Timber Supply Agreements | |
| CatchMark Timber Trust is party to a fiber supply agreement and a master stumpage agreement (collectively, the “Mahrt Timber Agreements”) with a wholly owned subsidiary of MeadWestvaco Corporation (“MeadWestvaco”). The fiber supply agreement provides that MeadWestvaco will purchase specified tonnage of timber from CatchMark TRS at specified prices per ton, depending upon the type of timber. The fiber supply agreement is subject to quarterly market pricing adjustments based on an index published by Timber Mart-South, a quarterly trade publication that reports raw forest product prices in 11 southern states. The master stumpage agreement provides that CatchMark Timber Trust will sell specified amounts of timber and make available certain portions of its timberlands to CatchMark TRS for harvesting. The initial term of the Mahrt Timber Agreements is October 9, 2007 through December 31, 2032, subject to extension and early termination provisions. The Mahrt Timber Agreements ensure a long-term source of supply of wood fiber products for MeadWestvaco in order to meet its paperboard and lumber production requirements at specified mills and provide CatchMark Timber Trust with a reliable customer for the wood products from its timberlands. | |
| In connection with the acquisition of the Waycross-Panola properties, CatchMark Timber Trust assumed a timber supply agreement which allows a third-party mill to harvest and purchase timber located on the Waycross properties (the "Waycross Supply Agreement"). The Waycross Supply Agreement established a minimum and maximum purchase amounts of pine pulpwood and is subject to quarterly price adjustments based on a index published by Timber Mart-South. The Waycross Supply Agreement is effective from January 1, 2011 through December 31, 2020, subject to early termination provisions. | |
| FRC Timberland Operating Agreement | |
| CatchMark Timber Trust is party to certain timberland operating agreements with Forest Resource Consultants, Inc. (“FRC”). Pursuant to the terms of the timberland operating agreements, FRC manages and operates all of CatchMark Timber Trust's timberlands and related timber operations in Georgia, Alabama, and Texas, including ensuring compliance with the timber supply agreements. In consideration for rendering the services described in the timberland operating agreements, CatchMark Timber Trust pays FRC (i) a monthly management fee based on the actual acreage FRC manages, which is payable monthly in advance, and (ii) an incentive fee based on timber harvest revenues generated by the timberlands, which is payable quarterly in arrears. The timberland operating agreements, as amended, are effective through March 31, 2017, with the option to extend for one-year periods and may be terminated by either party with mutual consent or by CatchMark Timber Trust with or without cause upon providing 120 days’ prior written notice. | |
| Litigation | |
| From time to time, CatchMark Timber Trust may be a party to legal proceedings, claims, and administrative proceedings that arise in the ordinary course of its business. Management makes assumptions and estimates concerning the likelihood and amount of any reasonably possible loss relating to these matters using the latest information available. CatchMark Timber Trust records a liability for litigation if an unfavorable outcome is probable and the amount of loss or range of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, CatchMark Timber Trust accrues the best estimate within the range. If no amount within the range is a better estimate than any other amount, CatchMark Timber Trust accrues the minimum amount within the range. If an unfavorable outcome is probable but the amount of the loss cannot be reasonably estimated, CatchMark Timber Trust discloses the nature of the litigation and indicates that an estimate of the loss or range of loss cannot be made. If an unfavorable outcome is reasonably possible and the estimated loss is material, CatchMark Timber Trust discloses the nature and estimate of the possible loss of the litigation. CatchMark Timber Trust does not disclose information with respect to litigation where an unfavorable outcome is considered to be remote. | |
| CatchMark Timber Trust is not currently involved in any legal proceedings of which the outcome is reasonably likely to have a material adverse effect on the results of operations, financial condition, or cash flows of CatchMark Timber Trust. CatchMark Timber Trust is not aware of any such legal proceedings contemplated by governmental authorities. |
Stockholders_Equity
| Stockholders' Equity | 9 Months Ended |
| Sep. 30, 2014 | |
| Stockholders' Equity Note [Abstract] | ' |
| Stockholders' Equity | ' |
| Stockholders' Equity | |
| Recapitalization | |
| On October 24, 2013, CatchMark Timber Trust effectuated a ten-to-one reverse stock split of its then-outstanding common stock (the “Reverse Stock Split”). Immediately following the Reverse Stock Split, CatchMark Timber Trust re-designated all of its then-authorized common stock as "Class A Common Stock". A stock dividend was declared and paid on October 25, 2013 (the “Stock Dividend” and, together with the Reverse Stock Split, the “Recapitalization”) pursuant to which each share of common stock outstanding as of October 24, 2013, following the Reverse Stock Split, received one share of Class B-1 common stock; plus one share of Class B-2 common stock; plus one share of Class B-3 common stock. Any fractional shares of Class A common stock outstanding after the reverse stock split also received an equivalent fractional share of Class B-1, Class B-2 and Class B-3 common stock, which was then immediately converted into Class A common stock. All common stock share and per share data included in these consolidated financial statements give retroactive effect to the Recapitalization. CatchMark Timber Trust refers to Class B-1 common stock, Class B-2 common stock, and Class B-3 common stock collectively as “Class B common stock,” and Class A and Class B common stock collectively as “common stock.” | |
| The combined effect of the ten-to-one reverse stock split and the stock dividend is equivalent to a 2.5-to-one reverse stock split. The Recapitalization decreased the total number of outstanding shares of CatchMark Timber Trust's common stock, but did not change the number of shares of common stock that are authorized for issuance under its charter. The Recapitalization was effected on a pro rata basis with respect to all stockholders. Accordingly, it did not affect any stockholder’s proportionate ownership of CatchMark Timber Trust's outstanding shares. | |
| CatchMark Timber Trust's Class B common stock is identical to its Class A common stock except that (1) CatchMark Timber Trust does not intend to list its Class B common stock on a national securities exchange and (2) shares of Class B common stock have converted or will convert automatically into shares of Class A common stock, pursuant to provisions of CatchMark Timber Trust's charter, on the following schedule: | |
| •June 12, 2014, in the case of the Class B-1 common stock; and | |
| •December 12, 2014, in the case of the Class B-2 common stock; and | |
| •June 12, 2015, in the case of the Class B-3 common stock. | |
| The board of directors has the authority to accelerate the conversion of the Class B-2 shares and the Class B-3 shares to dates not earlier than nine months and twelve months, respectively, following the listing with the consent of the underwriter of its initial listed public offering. On the 18-month anniversary of the listing, all shares of the Class B common stock will have converted into the Class A common stock. | |
| On June 12, 2014, all 3,164,476 shares of CatchMark Timber Trust's Class B-1 common stock converted to its Class A common stock. | |
| Listing and Initial Listed Public Offering | |
| On September 23, 2013, CatchMark Timber Trust filed a Registration Statement on Form S-11 with the SEC for a public offering of up to $172.5 million of its Class A common stock, which was declared effective by the SEC on December 11, 2013. On December 12, 2013, CatchMark Timber Trust listed its Class A common stock on the New York Stock Exchange (the "NYSE") under the ticker symbol "CTT" (the "Initial Listed Public Offering"). CatchMark Timber Trust completed the Initial Listed Public Offering on December 17, 2013, issuing 10.5 million shares of its Class A common stock and received gross proceeds of $142.1 million. After deducting underwriter discounts and commissions of $9.9 million and direct issuance costs of $1.6 million, $80.2 million of the net proceeds were used to repay the outstanding balance under its existing term loan, and $49.0 million were used to redeem all of CatchMark Timber Trust's outstanding preferred shares and to pay the accrued but unpaid dividends. | |
| On January 9, 2014, the underwriters for the Initial Listed Public Offering exercised their overallotment option to purchase approximately 1.6 million shares of CatchMark Timber Trust's Class A common stock in full. After deducting $1.5 million of underwriter discounts and commissions, CatchMark Timber Trust received net proceeds of $19.8 million, $18.2 million of which was used to pay down the outstanding note payable. | |
| Follow-on Listed Public Offering | |
| On June 20, 2014, CatchMark Timber Trust filed a Registration Statement on Form S-3 with the SEC for future public offerings of up to $600.0 million in an undefined combination of common stock, preferred stock, debt securities, depositary shares, or warrants. The Form S-3 was declared effective by the SEC on July 2, 2014. | |
| On July 11, 2014, CatchMark Timber Trust entered into an underwriting agreement with Raymond James & Associates, Inc., as representative of the underwriters named therein (collectively, the "Underwriters"), pursuant to which CatchMark Timber Trust agreed to issue and sell to the Underwriters 12.5 million shares of its Class A common stock and also agreed to issue and sell to the Underwriters, at the option of the Underwriters, an aggregate of up to approximately 1.9 million additional shares of Class A common stock. The shares were priced at $11.75 per share (the "Follow-on Listed Public Offering"). | |
| On July 16, 2014 and July 23, 2014 respectively, CTT issued 12.5 million and approximately 1.9 million shares, respectively, for $11.75 per share, in the Follow-on Listed Public Offering. After deducting $7.0 million and $1.0 million in underwriter discounts and commissions, respectively, CatchMark Timber Trust received net proceeds of $139.9 million and $21.0 million, before issuance costs, respectively. CatchMark Timber Trust used $118.5 million of the net proceeds to pay off the Term Loan Facility and Multi-Draw Term Facility. | |
| During the nine months ended September 30, 2014, CatchMark Timber Trust included $10.0 million of issuance costs in stockholders' equity which partially offset the proceeds from the Initial Listed Public Offering and the Follow-on Listen Public Offering. | |
| Stock-based Compensation | |
| On October 24, 2013, CatchMark Timber Trust’s board of directors approved the Amended and Restated 2005 Long-Term Incentive Plan (the “LTIP”), effective from October 25, 2013 through October 25, 2023. Pursuant to the LTIP, the board of directors made available for issuance thereunder 1,150,000 shares of Class A common stock and 50,000 shares of each of the Class B-1, Class B-2 and Class B-3 common stock to the employees and independent directors. | |
| On February 10, 2014, the board of directors approved an amended and restated independent directors' compensation plan (the "Independent Directors Plan"). The Independent Directors Plan is operated as a sub-plan of the LTIP and became effective as of January 1, 2014. | |
| Pursuant to the Independent Directors Plan, on March 18, 2014, CatchMark Timber Trust granted 2,175 shares of restricted stock having a value of $30,000 on the grant date to each of its five independent directors as the directors' annual equity award. These restricted shares vest in thirds on each of the first three anniversaries of the grant, subject to the independent director’s continued service on the board on each such date, or on the earlier occurrence of a change in control of the company or the independent director’s death, disability, or termination with cause. As of September 30, 2014, CatchMark Timber Trust had granted 20,475 shares of restricted stock to its current and former independent directors, 4,733 shares of which had vested and 1,467 shares of which were forfeited due to the resignations of two former independent directors. | |
| One of the independent directors has elected to receive a portion of his compensation in CatchMark Timber Trust's common stock in lieu of cash. For the three months and nine months ended September 30, 2014, CatchMark Timber Trust granted 589 and 1,973 shares, respectively, to the independent director pursuant to this election. |
Supplemental_Disclosures_of_No
| Supplemental Disclosures of Noncash Activities | 9 Months Ended | ||||||||
| Sep. 30, 2014 | |||||||||
| Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
| Supplemental Disclosures of Noncash Activities | ' | ||||||||
| Supplemental Disclosures of Noncash Activities | |||||||||
| Outlined below are significant noncash investing and financing transactions for the nine months ended September 30, 2014 and 2013, respectively: | |||||||||
| 2014 | 2013 | ||||||||
| Dividends accrued on preferred stock | $ | — | $ | 279,073 | |||||
| Forfeiture of restricted stock award | $ | — | $ | 205 | |||||
| Market value adjustment to interest rate swap that qualifies for hedge accounting treatment | $ | 268,368 | $ | 1,126,174 | |||||
| Other liabilities assumed upon acquisition of timberland | $ | — | $ | 125,163 | |||||
| Write-off of fully amortized deferred financing costs | $ | 394,797 | $ | — | |||||
RelatedParty_Transactions_and_
| Related-Party Transactions and Agreements | 9 Months Ended | |||||||||||||||
| Sep. 30, 2014 | ||||||||||||||||
| Related Party Transactions [Abstract] | ' | |||||||||||||||
| Related-Party Transactions and Agreements | ' | |||||||||||||||
| Related-Party Transactions and Agreements | ||||||||||||||||
| From its inception to October 24, 2013, CatchMark Timber Trust operated as an externally advised REIT pursuant to an advisory agreement under which Wells Timberland Management Organization, LLC (“Wells TIMO”), a subsidiary of Wells Real Estate Funds, Inc. (“Wells REF”), performed certain key functions on behalf of CatchMark Timber Trust, including, among others, managing the day-to-day operations, investing capital proceeds and arranging financing. On October 25, 2013, CatchMark Timber Trust became a self-managed company by terminating the advisory agreement and hiring its own employees. Contemporaneous with this transaction, CatchMark Timber Trust entered into a series of service agreements and a sublease agreement with Wells REF and Wells TIMO (together with their respective affiliates, “Wells”). All of the agreements between CatchMark Timber Trust and Wells terminated on or before June 30, 2014. The following are descriptions of the agreements in place during the nine months ended September 30, 2014 and 2013. | ||||||||||||||||
| Advisory Agreement with Wells TIMO | ||||||||||||||||
| Prior to its transition to self-management on October 25, 2013, CatchMark Timber Trust was externally advised by Wells TIMO pursuant to an advisory agreement (the "Advisory Agreement"), where Wells TIMO performed certain key functions on behalf of CatchMark Timber Trust, including, among others, management of day-to-day operations and investment of capital proceeds. The advisory agreement terminated on October 25, 2013. | ||||||||||||||||
| During the three months and nine months ended September 30, 2013, CatchMark Timber Trust incurred approximately $0.9 million and $3.3 million of advisory fees and expense reimbursements payable to Wells TIMO, respectively, which was included in general and administrative expenses in the accompanying consolidated statements of operations. | ||||||||||||||||
| Master Self-Management Transition Agreement and Termination of Advisory Agreement | ||||||||||||||||
| On September 18, 2013, CatchMark Timber Trust, CatchMark Timber OP, Wells REF and Wells TIMO entered into the Master Self-Management Transition Agreement (the "Master Agreement"), which sets forth the framework for CatchMark Timber Trust’s separation from Wells and its transition to self-management. On October 24, 2013, the parties entered into the Amendment to the Master Agreement and terminated the Advisory Agreement effective October 25, 2013. | ||||||||||||||||
| Pursuant to the Master Agreement, Wells agreed to facilitate and support CatchMark Timber Trust’s efforts to hire up to eight employees of Wells identified by CatchMark Timber Trust who, as of the date of the Master Agreement, performed substantial services for CatchMark Timber Trust pursuant to the Advisory Agreement (collectively, the “Targeted Personnel”). On October 25, 2013, CatchMark Timber Trust hired the Targeted Personnel selected by CatchMark Timber Trust with such compensation and benefits as determined by CatchMark Timber Trust. | ||||||||||||||||
| Transition Services Agreement | ||||||||||||||||
| Pursuant to the Master Agreement, CatchMark Timber Trust and Wells REF entered into a Transition Services Agreement (the “TSA”) on October 25, 2013, pursuant to which Wells provided certain consulting, support, and transitional services to CatchMark Timber Trust at the direction of CatchMark Timber Trust in order to facilitate CatchMark Timber Trust’s successful transition to self-management. | ||||||||||||||||
| In exchange for the services provided by Wells under the TSA, CatchMark Timber Trust paid Wells a monthly consulting fee of $22,875 (the “Consulting Fee”). In addition to the Consulting Fee, CatchMark Timber Trust paid directly or reimbursed Wells for any third-party expenses paid or incurred by Wells on CatchMark Timber Trust’s behalf in connection with the services provided pursuant to the TSA; provided, however, that (1) Wells obtained written approval from CatchMark Timber Trust prior to incurring any third-party expenses for the account of, or reimbursable by, CatchMark Timber Trust and (2) CatchMark Timber Trust was not required to reimburse Wells for any administrative service expenses, including Wells's overhead, personnel costs, and costs of goods used in the performance of services under the TSA. The TSA remained in effect until June 30, 2014. | ||||||||||||||||
| Sublease Agreement | ||||||||||||||||
| Pursuant to the Master Agreement, Wells REF and CatchMark Timber OP entered into the Sublease Agreement (the "Sublease") on October 25, 2013, pursuant to which CatchMark Timber OP sublet from Wells REF a portion of the office space used and occupied by Wells REF. The term of the Sublease commenced on October 25, 2013 and terminated on March 31, 2014. | ||||||||||||||||
| Related-Party Costs | ||||||||||||||||
| Pursuant to the terms of the agreements described above, CatchMark Timber Trust incurred the following related-party costs for the three months and nine months ended September 30, 2014 and 2013, respectively: | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| 30-Sep | 30-Sep | |||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||
| Advisor fees and expense reimbursements | $ | — | $ | 930,000 | $ | — | $ | 3,311,608 | ||||||||
| Disposition fees | — | 12,909 | — | 39,096 | ||||||||||||
| Consulting fees | — | — | 137,250 | — | ||||||||||||
| Office rent | — | — | 17,883 | — | ||||||||||||
| Total | $ | — | $ | 942,909 | $ | 155,133 | $ | 3,350,704 | ||||||||
| All the related-party costs were included in general and administrative expenses in the accompanying consolidated statements of operations. | ||||||||||||||||
Subsequent_Events
| Subsequent Events | 9 Months Ended |
| Sep. 30, 2014 | |
| Subsequent Events [Abstract] | ' |
| Subsequent Events | ' |
| Subsequent Events | |
| Acquisitions of Timberlands | |
| On October 2, 2014, CatchMark Timber Trust completed its purchase of 17,913 acres of timberland located in Southern Georgia and Northern Florida (the "Satilla River Timberlands") for a total purchase price of $34.4 million, exclusive of closing costs (the "Satilla River Acquisition"). This property acquisition was funded with cash on hand. | |
| Also on October 2, 2014, CatchMark Timber Trust completed its purchase of 37,663 acres of timberland located primarily in Middle Georgia (the "Oglethorpe Timberlands") for a total purchase price of $76.3 million, exclusive of closing costs (the "Oglethorpe Acquisition"). This property acquisition was funded with debt borrowing (see below). | |
| Subsequently on October 30, 2014, CatchMark Timber Trust completed its purchase of approximately 21,300 acres of timberland located in Louisiana (the "Beauregard Timberlands") for a total purchase price of $38.5 million, exclusive of closing costs (the "Beauregard Acquisition"). This property acquisition was funded with debt borrowing (see below). | |
| Debt Borrowings | |
| On October 1, 2014, CatchMark Timber Trust borrowed $77.3 million under its Multi-Draw Term Facility to fund the Oglethorpe Acquisition. | |
| On October 28, 2014, CatchMark Timber trust borrowed $39.0 million under its Multi-Draw Term Facility to fund the Beauregard Acquisition. | |
| Timberland Sales | |
| On November 5, 2014, CatchMark Timber Trust closed on a land sale of approximately 2,900 acres of land holdings in Georgia from Timberlands II, LLC for $9.0 million, exclusive of closing costs. The buyer had exercised a previously existing purchase option on the property. |
Summary_of_Significant_Account1
| Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
| Sep. 30, 2014 | |
| Accounting Policies [Abstract] | ' |
| Basis of Presentation and Principles of Consolidation | ' |
| Basis of Presentation and Principles of Consolidation | |
| The consolidated financial statements of CatchMark Timber Trust have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and shall include the accounts of any variable interest entity (“VIE”) in which the Company or its subsidiaries is deemed the primary beneficiary. With respect to entities that are not VIEs, CatchMark Timber Trust’s consolidated financial statements shall also include the accounts of any entity in which CatchMark Timber Trust or its subsidiaries owns a controlling financial interest and any limited partnership in which CatchMark Timber Trust or its subsidiaries owns a controlling general partnership interest. In determining whether a controlling interest exists, CatchMark Timber Trust considers, among other factors, the ownership of voting interests, protective rights, and participatory rights of the investors. | |
| CatchMark Timber Trust owns a controlling financial interest in CatchMark Timber OP, CatchMark LP Holder and CatchMark TRS and, accordingly, includes the accounts of these entities in its consolidated financial statements. The financial statements of CatchMark Timber OP, CatchMark LP Holder and CatchMark TRS are prepared using accounting policies consistent with those used by CatchMark Timber Trust. All intercompany balances and transactions have been eliminated in consolidation. | |
| Fair Value Measurements | ' |
| Fair Value Measurements | |
| CatchMark Timber Trust estimates the fair value of its assets and liabilities (where currently required under GAAP) consistent with the provisions of the accounting standard for fair value measurements and disclosures. Under this guidance, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. While various techniques and assumptions can be used to estimate fair value depending on the nature of the asset or liability, the accounting standard for fair value measurements and disclosures provides the following fair value technique parameters and hierarchy, depending upon availability: | |
| Level 1 — Assets or liabilities for which the identical term is traded on an active exchange, such as publicly-traded instruments or futures contracts. | |
| Level 2 — Assets and liabilities valued based on observable market data for similar instruments. | |
| Level 3 — Assets or liabilities for which significant valuation assumptions are not readily observable in the market. Such assets or liabilities are valued based on the best available data, some of which may be internally developed. Significant assumptions may include risk premiums that a market participant would require. | |
| Interest Rate Swaps | ' |
| Interest Rate Swaps | |
| CatchMark Timber Trust enters into interest rate swap contracts to mitigate its exposure to changing interest rates on variable rate debt instruments. CatchMark Timber Trust does not enter into derivative or interest rate transactions for speculative purposes; however, certain of its derivatives may not qualify for hedge accounting treatment. The fair values of interest rate swaps are recorded as either prepaid expenses and other assets or other liabilities in the accompanying consolidated balance sheets. Changes in the fair value of the effective portion of interest rate swaps that are designated as hedges are recorded as other comprehensive income (loss), while changes in the fair value of the ineffective portion of hedges, if any, are recognized in current earnings. Changes in the fair value of interest rate swaps that do not qualify for hedge accounting treatment are recorded as gain (loss) on interest rate swap in the consolidated statements of operations. Amounts received or paid under interest rate swaps are recorded as interest expense for contracts that qualify for hedge accounting treatment and as gain (loss) on interest rate swaps for contracts that do not qualify for hedge accounting treatment. | |
| CatchMark Timber Trust applied the provisions of the accounting standard for fair value measurements and disclosures in recording its interest rate swaps at fair value. The fair values of interest rate swaps, classified under Level 2, were determined using a third-party proprietary model that is based on prevailing market data for contracts with matching durations, current and anticipated London Interbank Offered Rate ("LIBOR") information, consideration of CatchMark Timber Trust's credit standing, credit risk of counterparties, and reasonable estimates about relevant future market conditions. | |
| Earnings Per Share | ' |
| Earnings Per Share | |
| Basic earnings (loss) per share available to common stockholders is calculated as net income (loss) available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Weighted-average number of common shares information presented in the accompanying consolidated statements of operations is retroactively adjusted for all periods presented to reflect the impact of a recapitalization transaction (see Note 7 - Stockholders' Equity). Net income (loss) available to common stockholders is calculated as net income (loss) less dividends payable to or accumulated to preferred stockholders. Diluted earnings (loss) per share available to common stockholders equals basic earnings per share available to common stockholders, adjusted to reflect the dilution that would occur if all outstanding securities convertible into common shares or contracts to issue common shares were converted or exercised and the related proceeds are then used to repurchase common shares. Basic and diluted earnings (loss) per share were the same for all periods presented as the dilutive effect of outstanding securities was immaterial. | |
| Income Taxes | ' |
| Income Taxes | |
| CatchMark Timber Trust has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), and has operated as such beginning with its taxable year ended December 31, 2009. To qualify to be taxed as a REIT, CatchMark Timber Trust must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income to its stockholders. As a REIT, CatchMark Timber Trust generally is not subject to federal income tax on taxable income it distributes to stockholders. CatchMark Timber Trust is subject to certain state and local taxes related to the operations of timberland properties in certain locations, which have been provided for in the accompanying consolidated financial statements. CatchMark Timber Trust records interest and penalties related to uncertain tax positions as general and administrative expense in the accompanying consolidated statements of operations. | |
| CatchMark Timber Trust has elected to treat CatchMark Timber Trust TRS as a taxable REIT subsidiary. CatchMark Timber Trust may perform certain non-customary services, including real estate or non-real-estate related services, through CatchMark Timber Trust TRS. Earnings from services performed through CatchMark Timber Trust TRS are subject to federal and state income taxes irrespective of the dividends paid deduction available to REITs for federal income tax purposes. In addition, for CatchMark Timber Trust to continue to qualify to be taxed as a REIT, CatchMark Timber Trust’s investment in CatchMark Timber Trust TRS may not exceed 25% of the value of the total assets of CatchMark Timber Trust. | |
| Deferred tax assets and liabilities represent temporary differences between the financial reporting basis and the tax basis of assets and liabilities based on the enacted rates expected to be in effect when the temporary differences reverse. Deferred tax expense or benefit is recognized in the financial statements according to the changes in deferred tax assets or liabilities between years. Valuation allowances are established to reduce deferred tax assets when it becomes more likely than not that such assets, or portions thereof, will not be realized. | |
| No provision for federal income taxes has been made in the accompanying consolidated financial statements, other than the provision relating to CatchMark Timber Trust TRS, as CatchMark Timber Trust did not generate taxable income for the periods presented. | |
| Reclassification | ' |
| Reclassification | |
| Certain prior period amounts have been reclassified to conform with the current period's financial statement presentation. Advisor fees and expense reimbursements incurred in 2013 were previously included in a separate line item and are now included in general and administrative expenses for the respective periods in the accompanying consolidated statement of operations. | |
| Recent Accounting Pronouncements | ' |
| Recent Accounting Pronouncements | |
| In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2013-11, Income Taxes: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11"). ASU 2013-11 requires an entity to present an unrecognized tax benefit in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date or not intended to be used to settle any additional income taxes that would result in the dis-allowance of a tax position in which case the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 became effective for CatchMark Timber Trust for the period beginning on January 1, 2014. The adoption of ASU 2013-11 did not have a material impact on CatchMark Timber Trust's financial statements or disclosures. | |
| In May 2014, FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). Under this guidance, an entity is required to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the expected consideration for those goods or services. ASU 2014-09 is effective beginning in fiscal 2017 and can be adopted either retrospectively or as a cumulative-effect adjustment as of the date of adoption. CatchMark Timber Trust is currently evaluating the effect that adopting this new accounting guidance will have on its financial statements or disclosures. |
Timber_Assets_Tables
| Timber Assets (Tables) | 9 Months Ended | |||||||||||
| Sep. 30, 2014 | ||||||||||||
| Property, Plant and Equipment [Abstract] | ' | |||||||||||
| Schedule of timber and timberlands | ' | |||||||||||
| As of September 30, 2014 and December 31, 2013, timber and timberlands consisted of the following, respectively: | ||||||||||||
| As of September 30, 2014 | ||||||||||||
| Gross | Accumulated | Net | ||||||||||
| Depletion or | ||||||||||||
| Amortization | ||||||||||||
| Timber | $ | 181,429,182 | $ | 10,389,952 | $ | 171,039,230 | ||||||
| Timberlands | 229,691,394 | — | 229,691,394 | |||||||||
| Mainline roads | 570,396 | 295,448 | 274,948 | |||||||||
| Timber and timberlands | $ | 411,690,972 | $ | 10,685,400 | $ | 401,005,572 | ||||||
| As of December 31, 2013 | ||||||||||||
| Gross | Accumulated | Net | ||||||||||
| Depletion or | ||||||||||||
| Amortization | ||||||||||||
| Timber | $ | 149,859,173 | $ | 8,505,024 | $ | 141,354,149 | ||||||
| Timberlands | 184,114,333 | — | 184,114,333 | |||||||||
| Mainline roads | 498,237 | 240,321 | 257,916 | |||||||||
| Timber and timberlands | $ | 334,471,743 | $ | 8,745,345 | $ | 325,726,398 | ||||||
| During the nine months ended September 30, 2014, CatchMark Timber Trust acquired the following timberland properties: | ||||||||||||
| Property Name | State(s) | Date of Acquisition | Acres | Purchase Price | ||||||||
| exclusive of closing costs | ||||||||||||
| (in millions) | ||||||||||||
| Browder property | Georgia | February 20, 2014 | 202 | $ | 0.2 | |||||||
| Waycross - Panola properties | Georgia / Texas | April 11, 2014 | 36,320 | 73.7 | ||||||||
| Upson property | Georgia | April 29, 2014 | 958 | 1.6 | ||||||||
| Clinch property | Georgia | May 30, 2014 | 7,044 | 10 | ||||||||
| Total | 44,524 | $ | 85.5 | |||||||||
Supplemental_Disclosures_of_No1
| Supplemental Disclosures of Noncash Activities (Tables) | 9 Months Ended | ||||||||
| Sep. 30, 2014 | |||||||||
| Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
| Schedule of significant noncash investing and financing transactions | ' | ||||||||
| Outlined below are significant noncash investing and financing transactions for the nine months ended September 30, 2014 and 2013, respectively: | |||||||||
| 2014 | 2013 | ||||||||
| Dividends accrued on preferred stock | $ | — | $ | 279,073 | |||||
| Forfeiture of restricted stock award | $ | — | $ | 205 | |||||
| Market value adjustment to interest rate swap that qualifies for hedge accounting treatment | $ | 268,368 | $ | 1,126,174 | |||||
| Other liabilities assumed upon acquisition of timberland | $ | — | $ | 125,163 | |||||
| Write-off of fully amortized deferred financing costs | $ | 394,797 | $ | — | |||||
RelatedParty_Transactions_and_1
| Related-Party Transactions and Agreements (Tables) | 9 Months Ended | |||||||||||||||
| Sep. 30, 2014 | ||||||||||||||||
| Related Party Transactions [Abstract] | ' | |||||||||||||||
| Schedule of Related Party Transactions | ' | |||||||||||||||
| CatchMark Timber Trust incurred the following related-party costs for the three months and nine months ended September 30, 2014 and 2013, respectively: | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| 30-Sep | 30-Sep | |||||||||||||||
| 2014 | 2013 | 2014 | 2013 | |||||||||||||
| Advisor fees and expense reimbursements | $ | — | $ | 930,000 | $ | — | $ | 3,311,608 | ||||||||
| Disposition fees | — | 12,909 | — | 39,096 | ||||||||||||
| Consulting fees | — | — | 137,250 | — | ||||||||||||
| Office rent | — | — | 17,883 | — | ||||||||||||
| Total | $ | — | $ | 942,909 | $ | 155,133 | $ | 3,350,704 | ||||||||
Organization_Details
| Organization (Details) (General Partner) | 9 Months Ended |
| Sep. 30, 2014 | |
| General Partner | ' |
| Class of Stock [Line Items] | ' |
| Percentage of general partnership interest owned by the company in the Operating Partnership common units | 99.99% |
Summary_of_Significant_Account2
| Summary of Significant Accounting Policies (Details) (Internal Revenue Service (IRS)) | Sep. 30, 2014 |
| Significant Accounting Policies | ' |
| Requirement to distribute taxable income (percent) | 90.00% |
| Maximum | ' |
| Significant Accounting Policies | ' |
| Limit on investments in taxable real estate investments trusts (percent) | 25.00% |
Timber_Assets_Details
| Timber Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
| acre | acre | acre | acre | |
| Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
| Timberland, acres sold | 210 | 300 | 780 | 1,200 |
| Timberland, acres sold, value | $485,630 | $645,436 | $1,575,419 | $2,498,757 |
| Basis of timberland sold | 300,000 | 400,000 | 1,000,000 | 1,600,000 |
| Timber Properties | ' | ' | ' | ' |
| Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
| Area of Land, Acquired | ' | ' | ' | 1,800 |
| Area of Land | 320,200 | ' | 320,200 | ' |
| Payments to acquire timberland | ' | ' | ' | $1,400,000 |
| Area of Land, Fee Simple | 290,600 | ' | 290,600 | ' |
| Land held in leasehold interests | 29,600 | ' | 29,600 | ' |
Timber_Assets_Schedule_of_Timb
| Timber Assets Schedule of Timber and Timberlands (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
| Timber Properties | Timber Properties | Timber Properties | Timberlands | Timberlands | Mainline roads | Mainline roads | Browder property | Waycross - Panola properties | Upson property | Clinch property | Total properties acquired | |||
| acre | Timber Properties | Timber Properties | Timber Properties | Timber Properties | Timber Properties | |||||||||
| acre | acre | acre | acre | acre | ||||||||||
| Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Timber and timberlands, gross | $411,690,972 | $334,471,743 | ' | $181,429,182 | $149,859,173 | $229,691,394 | $184,114,333 | $570,396 | $498,237 | ' | ' | ' | ' | ' |
| Timber and timberlands, accumulated depletion or amortization | 10,685,400 | 8,745,345 | ' | 10,389,952 | 8,505,024 | 0 | 0 | 295,448 | 240,321 | ' | ' | ' | ' | ' |
| Timber and timberlands, net | 401,005,572 | 325,726,398 | ' | 171,039,230 | 141,354,149 | 229,691,394 | 184,114,333 | 274,948 | 257,916 | ' | ' | ' | ' | ' |
| Properties Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Date of Acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20-Feb-14 | 11-Apr-14 | 29-Apr-14 | 30-May-14 | ' |
| Area of Land | ' | ' | ' | 320,200 | ' | ' | ' | ' | ' | 202 | 36,320 | 958 | 7,044 | 44,524 |
| Payments to acquire timberland | ' | ' | $1,400,000 | ' | ' | ' | ' | ' | ' | $200,000 | $73,700,000 | $1,600,000 | $10,000,000 | $85,500,000 |
Note_Payable_and_Line_of_Credi1
| Note Payable and Line of Credit (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
| Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 20, 2013 | Dec. 20, 2013 | Dec. 19, 2013 | 30-May-14 | Dec. 19, 2013 | Dec. 20, 2013 | Dec. 19, 2013 | 30-May-14 | 30-May-14 | Sep. 30, 2014 | 30-May-14 | Jul. 16, 2014 | Jun. 28, 2014 | 31-May-14 | 1-May-14 | Apr. 12, 2014 | Dec. 19, 2013 | Jul. 16, 2014 | Jan. 09, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | 30-May-14 | 30-May-14 | Sep. 30, 2014 | Dec. 19, 2013 | Dec. 20, 2013 | Dec. 19, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | 30-May-14 | |
| Multi-Draw and Revolving Credit Facility | Multi-Draw and Revolving Credit Facility | CoBank Loan | Amended CoBank Loan | Amended CoBank Loan | Amended CoBank Loan | Amended CoBank Loan | Amended CoBank Loan | Amended CoBank Loan | Amended Credit Agreement | Amended Credit Agreement | Amended Credit Agreement | Amended Credit Agreement | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | One-Month LIBOR | Base Rate | Base Rate | Base Rate | LIBOR | LIBOR | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Revolving Credit Facility | ||||||
| Secured Debt | Multi-Draw Term Facility | Multi-Draw Term Facility | Revolving Credit Facility | Revolving Credit Facility | Multi-Draw Term Facility | Term Loan | Revolving Credit Facility | Multi-Draw Term Facility | Multi-Draw Term Facility | Multi-Draw Term Facility | Multi-Draw Term Facility | Multi-Draw Term Facility | Multi-Draw Term Facility | Term Loan | Term Loan | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Base Rate | Base Rate | Base Rate | LIBOR | LIBOR | LIBOR | Amended CoBank Loan | Amended Credit Agreement | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Base Rate | Base Rate | Base Rate | LIBOR | LIBOR | LIBOR | Amended Credit Agreement | |||||||||||
| Revolving Credit Facility | Multi-Draw Term Facility | Term Loan | Revolving Credit Facility | Multi-Draw Term Facility | Term Loan | Multi-Draw and Revolving Credit Facility | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Multi-Draw Term Facility | Multi-Draw Term Facility | Multi-Draw Term Facility | Multi-Draw Term Facility | Term Loan | Term Loan | Multi-Draw and Revolving Credit Facility | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | Amended CoBank Agreement, December 2013 | ||||||||||||||||||||||||||||
| Multi-Draw Term Facility | Term Loan | Revolving Credit Facility | Multi-Draw Term Facility | Term Loan | Revolving Credit Facility | Draw | Draw | Draw | Multi-Draw Term Facility | Term Loan | Revolving Credit Facility | Multi-Draw Term Facility | Term Loan | Revolving Credit Facility | |||||||||||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $150,000,000 | $150,000,000 | ' | $15,000,000 | ' | $215,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,000,000 |
| Debt instrument maximum additional borrowings allowed | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Maximum additional borrowings allowed under line of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Description of variable rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'one-month LIBOR | 'base rate | 'base rate | 'base rate | 'LIBOR | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Basis spread on variable rate (in percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 0.50% | 0.50% | 1.75% | 1.50% | 1.50% | ' | ' | ' | ' | ' | ' | ' | 2.00% | 1.75% | 1.75% | 3.00% | 2.75% | 2.75% | ' |
| Number of draw allowed under the line of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 6 | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Covenant terms, loan to value ratio (in percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | 45.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Covenant terms, principal payment at per annum rate (in percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Unused commitment fee percentage (in percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.35% | ' | ' | ' | ' | ' | ' | ' |
| Increase in availability of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 |
| Repayments of note payable | ' | ' | 138,660,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 84,500,000 | 400,000 | ' | 1,600,000 | ' | ' | 34,000,000 | 18,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Write off of Deferred Debt Issuance Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Proceeds from note payable | ' | ' | 86,500,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,500,000 | ' | 76,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Use of proceeds, single transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Debt covenant, minimum liquidity balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
| Covenant, minimum fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | 1.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Secured debt outstanding | 0 | ' | 0 | ' | 52,160,000 | ' | ' | ' | ' | 52,160,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Permitted use of proceeds from land sales, LTV over 30 and under 40 percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Permitted use of proceeds from land sales, LTV under 30 percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Use of proceeds, aggregate transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Interest paid | 300,000 | 800,000 | 1,100,000 | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Unused borrowing capacity fee | ' | ' | ' | ' | ' | $100,000 | $300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest_Rate_Swap_Agreement_D
| Interest Rate Swap Agreement (Details) (Rabobank, Forward Contracts, Designated as Hedging Instrument, USD $) | 0 Months Ended | 9 Months Ended |
| Jul. 18, 2014 | Sep. 30, 2014 | |
| Derivative [Line Items] | ' | ' |
| Amount of ineffectiveness on forward swap | ' | $0 |
| Payments for interest rate swap | ' | 100,000 |
| One-Month LIBOR | ' | ' |
| Derivative [Line Items] | ' | ' |
| Notional amount of interest rate derivatives | ' | 33,000,000 |
| Fixed rate on interest rate swap | ' | 0.91% |
| Other comprehensive loss recognized due to change in fair value | ' | 300,000 |
| Net Payment Received for Cancellation of Interest Rate Swap | $200,000 | ' |
Commitments_and_Contingencies_
| Commitments and Contingencies (Details) | 9 Months Ended |
| Sep. 30, 2014 | |
| states | |
| Commitments and Contingencies Disclosure [Abstract] | ' |
| Number of states reporting raw forest product prices | 11 |
| Operating agreement, term of extension option (years) | '1 year |
| Operating agreement, notice of termination option (days) | '120 days |
Stockholders_Equity_Details
| Stockholders' Equity (Details) (USD $) | 1 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 0 Months Ended | 59 Months Ended | ||||||||||||||||||||
| Oct. 24, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 20, 2014 | Jul. 16, 2014 | Sep. 23, 2013 | Oct. 25, 2013 | Oct. 25, 2013 | Oct. 25, 2013 | Dec. 17, 2013 | Sep. 30, 2014 | Jun. 12, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Oct. 24, 2013 | Oct. 24, 2013 | Oct. 24, 2013 | Jan. 09, 2014 | Dec. 17, 2013 | Jul. 16, 2014 | Jul. 16, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Oct. 25, 2013 | Oct. 25, 2013 | Mar. 19, 2014 | Dec. 17, 2013 | Dec. 17, 2013 | Dec. 17, 2013 | Dec. 17, 2013 | Jul. 23, 2014 | Jan. 09, 2014 | Jul. 23, 2014 | Sep. 30, 2014 | |
| Common Class A | Common Class A | Common Class B-1 | Common Class B-2 | Common Class B-3 | Preferred Stock | Additional Paid-in Capital | Common Stock | Common Stock | Common Stock | Maximum | Maximum | Maximum | Multi-Draw Term Facility | Multi-Draw Term Facility | Multi-Draw and Term Loan | Underwriter Discounts and Commissions | Executive Officer | Executive Officer | Amended 2005 Long-Term Incentive Plan | Amended 2005 Long-Term Incentive Plan | Amended 2005 Long-Term Incentive Plan | IPO | IPO | IPO | IPO | Over-Allotment Option | Over-Allotment Option | Over-Allotment Option | Restricted Stock | |||||
| Common Class A | Common Class A | Common Class B | Common Class B | Common Class B-2 | Common Class B-3 | Amended CoBank Loan | Amended CoBank Loan | Amended CoBank Agreement, December 2013 | Common Class A | Common Class A | Common Class B-1 | Executive Officer | Common Class A | Common Class A | Underwriter Discounts and Commissions | Direct IPO Costs | Common Class A | Common Stock | Underwriter Discounts and Commissions | Amended 2005 Long-Term Incentive Plan | ||||||||||||||
| Common Class A | Common Class A | Common Class A | ||||||||||||||||||||||||||||||||
| Stockholders Equity Disclosures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| 10 to 1 reverse stock split ratio | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Stock dividend, shares received per share of common stock outstanding (in shares) | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| 2.5 to one effective reverse stock split | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Conversion period to Class A pursuant to listing (in months) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 months | '9 months | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Conversion to Class A Shares (in shares) | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,164,476 | 3,164,476 | -3,164,476 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Common stock value for public offering | ' | ' | ' | ' | ' | $172,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Stock issued during period (in shares) | ' | ' | ' | ' | 12,500,000 | ' | ' | ' | ' | ' | ' | ' | 15,953,947 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,500,000 | ' | ' | 1,900,000 | 1,600,000 | ' | ' |
| Proceeds from issuance of common stock | ' | 190,222,034 | 0 | ' | 139,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 142,100,000 | ' | ' | ' | 21,000,000 | 19,800,000 | ' | ' |
| Payments of Stock issuance costs | ' | 10,041,009 | 542,846 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | ' | ' | ' | ' | ' | 9,900,000 | 1,600,000 | ' | 1,500,000 | 1,000,000 | ' |
| Payments of outstanding term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,200,000 | 80,200,000 | 118,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Payments of ordinary dividends and repurchase of preferred stock and preference stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Amount authorized for future public offerings | ' | ' | ' | 600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Shares issued (in dollars per share) | ' | ' | ' | ' | $11.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Stock issuance cost | ' | 10,041,009 | ' | ' | ' | ' | ' | ' | ' | ' | 10,041,009 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number of additional shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,150,000 | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Restricted stock granted (in value) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30,000 | ' | ' | ' | ' | ' | ' | ' | ' |
| Restricted stock issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,175 | ' | ' | ' | ' | ' | ' | ' | 20,475 |
| Restricted stock vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,733 |
| Restricted stock forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,467 |
| Number of shares issued for services (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 589 | 1,973 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Disclosures_of_No2
| Supplemental Disclosures of Noncash Activities (Details) (USD $) | 9 Months Ended | |
| Sep. 30, 2014 | Sep. 30, 2013 | |
| Supplemental Cash Flow Elements [Abstract] | ' | ' |
| Dividends accrued on preferred stock | $0 | $279,073 |
| Forfeiture of restricted stock award | 0 | 205 |
| Market value adjustment to interest rate swap that qualifies for hedge accounting treatment | 268,368 | 1,126,174 |
| Other liabilities assumed upon acquisition of timberland | 0 | 125,163 |
| Write-off of fully amortized deferred financing costs | $394,797 | $0 |
RelatedParty_Transactions_and_2
| Related-Party Transactions and Agreements (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | ||
| Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Oct. 25, 2013 | |
| Affiliate | Affiliate | Affiliate | Affiliate | Transition Service Agreement | |
| Wells REF | |||||
| employees | |||||
| Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
| Related party transaction, amounts of transaction | $0 | $942,909 | $155,133 | $3,350,704 | ' |
| Number of Targeted Personnel hired from Wells REF | ' | ' | ' | ' | 8 |
| Monthly consulting fee | ' | ' | ' | ' | $22,875 |
RelatedParty_Transactions_and_3
| Related-Party Transactions and Agreements - Related Party Costs (Details) (Affiliate, USD $) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Related party transaction, amounts of transaction | $0 | $942,909 | $155,133 | $3,350,704 |
| Advisor fees and expense reimbursements | ' | ' | ' | ' |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Related party transaction, amounts of transaction | 0 | 930,000 | 0 | 3,311,608 |
| Disposition fees | ' | ' | ' | ' |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Related party transaction, amounts of transaction | 0 | 12,909 | 0 | 39,096 |
| Consulting fees | ' | ' | ' | ' |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Related party transaction, amounts of transaction | 0 | 0 | 137,250 | 0 |
| Office rent | ' | ' | ' | ' |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Related party transaction, amounts of transaction | $0 | $0 | $17,883 | $0 |
Subsequent_Events_Details
| Subsequent Events (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||
| Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Nov. 05, 2014 | Oct. 02, 2014 | Oct. 02, 2014 | Oct. 01, 2014 | Oct. 02, 2014 | Oct. 02, 2014 | Oct. 28, 2014 | Oct. 30, 2014 | Oct. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | |
| acre | acre | acre | acre | Subsequent Event | Satilla River Property | Satilla River Property | Oglethorpe Property | Oglethorpe Property | Oglethorpe Property | Beauregard Property | Beauregard Property | Beauregard Property | Timber Properties | Timber Properties | |
| acre | Timber Properties | Timber Properties | Multi-Draw Term Facility | Timber Properties | Timber Properties | Multi-Draw Term Facility | Timber Properties | Timber Properties | acre | ||||||
| Subsequent Event | Subsequent Event | Amended Credit Agreement | Subsequent Event | Subsequent Event | Amended Credit Agreement | Subsequent Event | Subsequent Event | ||||||||
| acre | Subsequent Event | acre | Subsequent Event | acre | |||||||||||
| Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Area of Land | ' | ' | ' | ' | ' | ' | 17,913 | ' | ' | 37,663 | ' | ' | 21,300 | ' | 320,200 |
| Payments to acquire timberland | ' | ' | ' | ' | ' | $34,400,000 | ' | ' | $76,300,000 | ' | ' | $38,500,000 | ' | $1,400,000 | ' |
| Proceeds from note payable | ' | ' | 86,500,000 | 0 | ' | ' | ' | 77,300,000 | ' | ' | 39,000,000 | ' | ' | ' | ' |
| Timberland, acres sold | 210 | 300 | 780 | 1,200 | 2,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Timberland sales | $485,630 | $645,436 | $1,575,419 | $2,498,757 | $9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |