Forestar Group Inc. (Forestar) is a real estate and natural resources company. The Company owns directly or through ventures over 220,000 acres of real estate located in nine states and 12 markets and about 606,000 net acres of mineral interests. Forestar has over 197,000 acres of timber on its real estate and about 18,000 acres of timber under lease. The Company operates in three business segments: Real estate, Mineral resources and Fiber resources. During the year ended December 31, 2010, the Company sold about 24,000 acres of timber and timberland in Georgia, Alabama and Texas. During 2010, it sold over 5,800 acres of undeveloped land through its retail land sales program. On December 29, 2010, the Company acquired a 401 unit, Class A multifamily property in Houston, Texas. During 2010, the Company sold about 30,000 acres of undeveloped land. On December 22, 2010, the Company acquired a water resources company.