The Trust acquired approximately 465.9 acres of vacant timberland along Highway 231 in Bay County, Florida, for $2,931,399, without financing. The investment strategy contemplates holding the property for appreciation and eventual sale to a homebuilder or developer, with an anticipated hold period of three to six years or longer. Approximately 45% to 50% of the property consists of wetlands, and rezoning from AG-1 remains unapproved. The property does not generate operating income, and distributions are not anticipated prior to sale. The Trust is structured for investors seeking Section 1031 tax-deferred exchanges.