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Pope Resources Announces Timberland Acquisition

Pope Resources Announces Timberland Acquisition | Timberland Investment | Scoop.it
Pope Resources (NASDAQ: POPE) announced today that it has entered into a definitive agreement to acquire approximately 7,300 acres of timberland in western Washington for $31.9 million from a client of Hancock Timber Resource Group. The acquisition will be financed with a new credit facility and closing is expected to occur in the third quarter of 2016, contingent on obtaining such financing.

"We like what this transaction represents in terms of species mix, age class distribution, ease-of-operability, and accretive cash flow," said Tom Ringo, President and CEO.  "An added plus is how the property folds neatly into our existing timberland management infrastructure due to its proximity to other lands we already own and manage."
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Campbell Global Acquires 100,000 Acres of Forest Property in Washington’s Puget Sound Region

Campbell Global Acquires 100,000 Acres of Forest Property in Washington’s Puget Sound Region | Timberland Investment | Scoop.it

Campbell Global has completed the purchase of over 100,000 acres of timberlands in the Puget Sound region of Washington state. The property is located east of Seattle and was previously managed by the Hancock Timber Resource Group.


The property, which has been well managed as productive timberland for many years, is comprised mostly of Douglas fir and Western Hemlock. The majority of the land base is also subject to a conservation easement that limits future development while it is also privately managed as a “working forest.”

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Tacoma’s Murray Pacific Corp. selling Lewis County timber lands to California forest giant

Tacoma’s Murray Pacific Corp. selling Lewis County timber lands to California forest giant | Timberland Investment | Scoop.it
A family-owned Tacoma company that has owned and managed thousands of acres of timberland in Washington for more than a century is selling its Lewis County lands to an aggressive California wood products company.

The acquisition of Murray Pacific Corp.’s 54,000 acres of forested land is Sierra Pacific Industries’ latest foray into the timber business in Washington. The sale is expected to be consummated by the end of July.

“The sale marks the end of Murray Pacific’s 104-year history in the timber business, and ensures that the timberland it has carefully managed for many decades goes to new owners with similar values,” the Tacoma-based company said Friday in a news release.

Toby Murray, the firm’s chief executive officer, said the company and the family that owns it are not going away.

“We’ve been in the investment business for more than 25 years now. This sale will give us much more money to invest,” he said.
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State buys 1,700 acres of forest on Olympic Peninsula

State buys 1,700 acres of forest on Olympic Peninsula | Timberland Investment | Scoop.it
The Washington state Department of Natural Resources (DNR) is buying more than 1,700 acres of forestland north of the Quinault Indian Reservation on the western Olympic Peninsula.

Purchased for $5.2 million from The Nature Conservancy, the land will add to both wildlife habitat and working forests.


The acreage will become part of the Olympic State Experimental Forest, which the DNR manages under its Habitat Conservation Plan for timber revenue to trust-land beneficiaries, including the Common School Trust.

The majority of the site’s standing timber will be ready to be logged in 10 to 20 years.
Sam Radcliffe's insight:

$3,023 per acre, with about $700 per acre allocated to bare land (based on other sources)

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Conservancy buys $7M in timberland on Olympic Peninsula

Conservancy buys $7M in timberland on Olympic Peninsula | Timberland Investment | Scoop.it
The Nature Conservancy has purchased 3,184 acres of Rayonier timberlands in the Hoh River drainage in a $7 million acquisition that is part of a broader forest-restoration effort on the Olympic Peninsula.

The land sale, which closed Monday, will help in the creation of a 32-mile conservation corridor extending from the Olympic National Park to the Olympic Coast National Marine Sanctuary.


The river corridor provides critical habitat for marbled murrelet, northern spotted owl, bald eagle and bull trout, and supports native salmon and steelhead runs, according to a statement released Monday by the Nature Conservancy. Plans for the conservancy land includes planting trees, restoring fish and wildlife habitat and some long-term rotation timber harvests.
Sam Radcliffe's insight:

$2,198 per acre

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STATE FOREST BOARD APPROVES MORE SCRUTINY OF LANDSLIDE PRONE SITES BEFORE TIMBER HARVESTS

STATE FOREST BOARD APPROVES MORE SCRUTINY OF LANDSLIDE PRONE SITES BEFORE TIMBER HARVESTS | Timberland Investment | Scoop.it
Just under seven months from when the devastating Oso mudslide in Snohomish County claimed the lives of 43 people and buried a portion of State Route 530, the main roadway to communities like Darrington, the Washington State Forest Practices Board has voted unanimously to expand the authority of the State Department of Natural Resources (DNR) to require landowners to provide additional technical information when planning timber harvests near potentially unstable slopes that could affect public safety.

The board reached the decision at its regular quarterly meeting Wednesday.
 
“Current rules prohibit timber harvests and other forest practices where they are likely to influence the further movement of an unstable slope,” said Commissioner of Public Lands Peter Goldmark. “These new procedures will apply an additional level of scrutiny, based on the best science available, to further protect the safety of the public and its natural resources.”
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Hancock to sell conservation easement on 9,000 acres near Klickitat River

Hancock to sell conservation easement on 9,000 acres near Klickitat River | Timberland Investment | Scoop.it

When a huge swath of forestland along the Klickitat River is formally secured for conservation by next year, it won't just be environmental advocates celebrating.


Protecting some 14 square miles of land — about 9,000 acres — also has the backing of local leaders and federal lawmakers from both parties. Spearheading the effort is the Columbia Land Trust, a nonprofit based in Vancouver.

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The land won't have to change hands to be protected. A nearly $4 million grant will allow the state Department of Natural Resources to secure the area by purchasing a conservation easement, Kearney said.


The move will extinguish development rights and assures that none of the landscape will be lost to second homes or resorts — a real threat in forestlands across the country, including Washington, according to the land trust. But it also keeps the area in working forestry, allowing timber harvests to continue. The land is privately owned by Hancock Natural Resource Group.


"It doesn't erode that economic resource," Kearney said, noting recreational assets are also preserved. "It keeps the traditional access for hunting and fishing."


Like many of the Columbia Land Trust's efforts, the Klickitat Canyon Working Forest project has been years in the making. The organization wrote a grant proposal in 2012, and learned earlier this year that it had netted $3.975 million from the Land and Water Conservation Fund, through its Forest Legacy Program.


DNR is just beginning the process of acquiring the easement that will conserve the land. The transaction will likely be complete in 2015, Kearney said.

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Review now required before logging near risky landslide areas

Review now required before logging near risky landslide areas | Timberland Investment | Scoop.it

Timber companies that want to harvest near potentially dangerous landslide areas will now have to conduct geologic reviews before getting a logging permit from the state, officials said Friday.


Under the new standards announced by Commissioner of Public Lands Peter Goldmark, the state will require a geotechnical report when there’s a potential risk to public safety — even if the harvest area itself doesn’t include unstable territory.

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The Seattle Times reported in the wake of the mudslide that state officials had been relying on an outdated map to determine where loggers could harvest trees above the slide hill. A clear-cut can increase groundwater flows and destabilize landslide-prone slopes.


Had state officials utilized a newer map at the landslide hill, regulators likely would have restricted most of the 7.5 acres that were clear-cut in 2004.

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State rules have required timber companies to conduct geotechnical reports when harvesting on potentially unstable slopes. Under the new procedures, DNR will examine sites to determine whether there are potential public-safety risks due to unstable slopes outside of a harvest area.


DNR said sites will be analyzed on a case-by-case basis, and the state would require the geotechnical reports if it feels public safety could be an issue.

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Muckleshoots pay $282 million for timberland near Mount Rainier

Muckleshoots pay $282 million for timberland near Mount Rainier | Timberland Investment | Scoop.it

The Muckleshoot Tribe on Wednesday paid $282 million for 86,501 acres of timberland near Mount Rainier National Park.


The White River Forest land is on both sides of state Route 410 between Eumclaw and Greenwater. In addition, the tribe bought 9,806 acres of forest in North Lewis County, though the price was not immediately available. The seller of all of the lands was a limited liability company whose address is the same as Hancock Natural Resources Group Inc. of Boston.

Sam Radcliffe's insight:

Wow, another non-traditional buyer...

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Grays Harbor forestland changing owners

Grays Harbor forestland changing owners | Timberland Investment | Scoop.it

The Washington State Department of Natural Resources will be exchanging over 5,000 acres of state trust land in Grays Harbor and Clallam counties for over 9,000 acres of properties owned by Green Crow Corporation in Clallam, Jefferson and Mason counties.


Known as the Foothills Land Exchange, the change is meant to place more sections of the Olympic Discovery Trail under public ownership. While protecting that land, it will also consolidate and protect more working forest lands from development along Hood Canal and the Strait of Juan de Fuca.


DNR will manage the lands acquired in the exchange to produce revenue for the Common School Trust, which funds public school construction statewide.

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Hancock sells development rights to 43,000 acres in Washington

Hancock sells development rights to 43,000 acres in Washington | Timberland Investment | Scoop.it

King County, reaching one of the biggest deals of its kind, has agreed to buy development rights on a 43,000-acre forest stretching from Enumclaw to Greenwater along the White River.


County Executive Dow Constantine announced the $11.1 million deal with Hancock Timber Resources Group at a news conference Thursday, saying it will expand the county’s “green wall against sprawl.”


The deal, approved Thursday by the Hancock board of directors, is subject to approval by the Metropolitan King County Council. Councilmembers Larry Phillips and Reagan Dunn, chair and vice chair respectively of the council’s Transportation, Economy and Environment Committee, declared their support for the agreement.


Constantine said the forest is the largest block of privately owned land in the county that isn’t already protected from development. It would continue to be operated as a working forest, with the public allowed to use the land for recreation.


The biggest deal of this type was King County’s 2004 purchase of development rights on Hancock’s 89,000-acre Snoqualmie tree farm.

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Sam Radcliffe's comment, March 21, 2013 6:18 PM
Let me do the arithmetic for you: that's $258 per acre
Jack D Bridges's curator insight, March 22, 2013 9:03 AM

$258/an acre seems like a great deal for King County--though, I haven't seen the terms of the transaction (for some reason the writer avoided calling it an easement).

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Thousands of timberland acres up for auction

Thousands of timberland acres up for auction | Timberland Investment | Scoop.it

Industrial forest-products firm Longview Timber is selling nearly 25,000 acres of Chelan and Kittitas County timberlands at auction.


Portland-based Realty Marketing/Northwest is handling the auction for the Longview firm. Sealed bids are due by July 18.

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Molpus Woodlands Group Announces the Purchase of 26,786 acres of Timberland in northern Idaho and eastern Washington

Molpus Woodlands Group Announces the Purchase of 26,786 acres of Timberland in northern Idaho and eastern Washington | Timberland Investment | Scoop.it
The Molpus Woodlands Group, LLC (Molpus), a timberland investment management organization headquartered in Jackson, Mississippi, announced today, on behalf of a client, the successful purchase of approximately 26,786 acres of timberland in northern Idaho and eastern Washington.

The property is located within six counties in northern Idaho and three counties in eastern Washington, in the vicinity of three fast growing population centers – Spokane, Washington, Coeur d’Alene, Idaho and Sandpoint, Idaho.  Located in the timber-rich region known as the Inland West, the property is surrounded by well-developed and well-capitalized sawmill markets.  It has been managed on a sustainable basis for decades.  The property is primarily dominated by conifer sawtimber, with a wide range of commercial species – Douglas-fir, western larch, grand fir, alpine fir, western hemlock, western red cedar and ponderosa pine.  Molpus currently maintains an office in Coeur d’Alene, Idaho that will assume the responsibilities associated with this new acquisition.  The Idaho team will now be managing approximately 163,000 acres. 
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AFM Offers Cascade-Columbia Package

AFM Offers Cascade-Columbia Package | Timberland Investment | Scoop.it
AFM Land Sales, LLC (AFMLS) has been engaged by a timberland investment owner to solicit sealed bids from interested participants for three separate timberland offerings known as the Cascade-Columbia Timberlands (the “Timberlands”). 

The offering is comprised of a combined 28,103± acres of professionally managed forestland located in southwest Washington.  The Timberlands will be offered for sale in three separate packages; the 12,671 acre Nisqually package, the 5,036± acre TWR package and the 10,395± acre Toppenish package.  Each will be offered in its entirety through a single-phase bid sale event. Interested parties are welcome to bid on one or any combination of all three properties with each package requiring an individual bid.
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Navy, Pope Resources agree to Dosewallips easement

Navy, Pope Resources agree to Dosewallips easement | Timberland Investment | Scoop.it
Naval Base Kitsap expanded the buffer around its operations Monday by purchasing a restrictive easement with Pope Resources on 3,392 timbered acres near the Dosewallips River.

The Navy is spending $4.9 million to prevent significant development or construction from ever occurring in the area. Pope agrees to continue to do no more than it is now — manage and harvest the trees.

At the same time, Washington State Parks bought 215 acres running two miles along the river’s length that will be added to Dosewallips State Park. It used a grant from the Salmon Recovery Fund and matching funds from the Navy for the purchase.

The Trust for Public Land, a national conservation organization, brokered the deal.
Sam Radcliffe's insight:

$1,444 per acre for a working forest easement, demonstrating that easement prices can vary widely depending on the specific location and development potential of the property.

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Pope Resources announces $4.9 million conservation sale

Pope Resources announces $4.9 million conservation sale | Timberland Investment | Scoop.it
Pope Resources announced on March 31 a $4.9 million conservation sale to The Trust for Public Land, consisting of a conservation easement covering 3,607 acres in Jefferson County.

Of the acreage, 215 acres were sold in fee, leaving 3,392 acres remaining under Pope Resources' ownership subject to the easement that precludes development but allows continuing timberland operations.

"We are pleased to enter into our second conservation transaction in the Hood Canal watershed involving the United States Navy and The Trust for Public Land," said Jon Rose, president of Olympic Property Group, a Pope Resources real estate subsidiary. "The easement and land sale will reduce potential future conflicts between Hood Canal naval operations and development of our property, while at the same time expanding public and riparian access to the Dosewallips River."
Sam Radcliffe's insight:

$1,358 per acre for mostly a conservation easement

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Pope sells conservation easement on 3,000 acres of forest near Mount St. Helens

Pope sells conservation easement on 3,000 acres of forest near Mount St. Helens | Timberland Investment | Scoop.it
Columbia Land Trust on Monday announced the conservation of more than 3,000 acres of forestland near Mount St. Helens, the latest phase in an ongoing effort by the organization to prevent development in the area.

The Vancouver-based nonprofit purchased development rights on the land, which will remain under the ownership of timber company Pope Resources. It will also remain in active forestry and produce tax-generating timber harvests, according to the land trust.

"This landmark project shows what can be achieved when a timber company, a conservation group and public leaders put their heads together to find lasting conservation solutions that benefit both people and nature," Columbia Land Trust Executive Director Glenn Lamb said in a released statement.

The $1.1 million deal is part of the Mount St. Helens Forest Conservation project, which aims to protect more than 20,000 acres of land near Swift Reservoir in Skamania County from development. The land trust secured nearly 6,900 acres south of the reservoir through a conservation easement in 2010. The organization acquired another 2,300 acres in the outright purchase of a second parcel along the east side of Pine Creek in 2013. This agreement added 3,087 acres mostly through an easement, though the land trust also purchased 210 acres along the west bank of Pine Creek, protecting critical habitat for endangered bull trout and other wildlife, according to the organization. The deal was funded by a grant from the Washington Wildlife and Recreation Program.
Sam Radcliffe's insight:

Roughly $400 per acre 

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Conservation group buys 165,000 acres of Plum Creek timberlands in effort to keep land wild

Conservation group buys 165,000 acres of Plum Creek timberlands in effort to keep land wild | Timberland Investment | Scoop.it

A decades-old effort to protect traditional wildlife corridors and public access to western forests is getting a huge boost in Washington and Montana by an international conservation group.

The Nature Conservancy is buying 48,000 acres of forest land from Plum Creek Timber on the east slope of Washington’s Cascade Mountains for long-term conservation along with 117,000 acres in the Blackfoot River Valley of Western Montana.

Announced last week, the $49 million purchase in Washington includes all of the timber company’s holdings from Snoqualmie Pass to Cle Elum – about 75 square miles scattered among state and national forest lands – along both sides of the Interstate 90 corridor.

As part of the same deal, the conservation nonprofit will pay $85 million for the private timberland in Montana.

Sam Radcliffe's insight:

The 48,000 acre addition is the news -- we scooped the 117,000 acre deal last week. The total package works out to $812 per acre, $726 per acre in Montana and $1,020 per acre in Washington.

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Chinese thirst for wood driving demand for Northwest logs

Chinese thirst for wood driving demand for Northwest logs | Timberland Investment | Scoop.it

If you want to know how China’s construction market is reshaping the Northwest, a Rainier, Ore., log yard is a good place to start.


The Teevin Brothers yard along the Columbia River rumbles with activity while workers prepare half a million logs for the towering ships docked across the river in the Port of Longview. A yellow stacking truck opens its pinchers and sends its payload rolling out across the ground. The air smells like sap and sawdust. Scalers wearing neon safety vests inspect the logs, stapling each with a plastic barcode.
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Teevin Brothers specializes in log handling and logistics for clients that include Weyerhaueser, Hancock Timber Resource Group and Georgia Pacific. Teevin Brothers alone filled about 18 vessels headed to China last year, Oien says. China’s growing demand for logs may have helped blunt the impact of the recent recession on timber landowners and logging crews, while making it even harder for local sawmills to compete.


Hakan Ekstrom, an industry analyst, says China appears to have a long-term interest in logs from the Northwest. Smaller ports like Grays Harbor and Olympia in Washington and Newport in Oregon are looking for a way into the business.


“Many of the ports that historically had been exporting logs to Japan, if you go back 10 to 20 years in time, have started to explore opportunities to see if they can update equipment, find land and maybe get involved in log exports again,” he says.
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Newport is a vibrant center of commercial fishing, marine tourism and research on the central Oregon Coast. Efforts here to revive the port’s long-shuttered log export terminal have run into opposition from neighbors and environmentalists.
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Teevin Brothers is negotiating a lease with the port and a nearby landowner to build a log yard and use the renovated terminal to fill freighters with logs bound for Asia.


Hancock Timber Resource Group, an investment firm that owns about 1.8 million acres of forest in the Northwest, would provide the logs. The firm owns 225,000 acres of forestland in Oregon’s Coast Range mountains within driving distance of Newport. Hancock exports about 25 percent of the logs it cuts.
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The project would route 50 loaded log trucks a day down the quiet neighborhood’s main street. An Alaskan timber company, Alcan, is negotiating a second log export deal that could double that truck traffic on some days. Many residents are irate. A few have listed their homes for sale.
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As a result, only private or corporate landowners can export logs without processing them first. Congress banned log export from federal lands in 1968 and from state lands in 1990, and blocked timber companies that export logs from purchasing federal timber to supply their mills.


Today, some environmental groups argue that the export of logs from private lands has increased the pressure on federal forests to resume logging and provide a steady supply for local mills.


Lincoln County used to be home to dozens of sawmills and several veneer mills. Now just one stud mill remains. On a recent evening in Newport, opponents of the log export terminal gathered to hear environmentalists and opponents of free trade discuss the export market.
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“It would be better to export processed wood products — lumber, plywood or pulp — than logs, thereby creating more domestic jobs and improving state and local economies,” wrote Gary Lettman, the chief economist for the Oregon Department of Forestry, in a report to the Oregon Legislature.
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But Lettmen also concluded that the log export market provides a crucial option for forest landowners when the demand for lumber in the U.S. drops. That means timberland remains profitable and isn’t sold to developers, and jobs are retained in the logging and forest management sectors.


It’s an argument that’s echoed by the managers at Hancock Timber Resource Group, the investment firm behind the Newport proposal.

“When we first started to do the export program in 2010, there wasn’t a lot of demand for domestic logs. Housing starts had crashed, and our ability to export helped us keep our logging crews together,” says Bill Marre, the Northwest general manager for Hancock.


And analyst Ekstrom says that while log exports may harm Northwest mills in the short term, he expects China to be increasingly interested in importing processed lumber from the Northwest in the future.


The challenge at present, he says, is that China doesn’t have a tradition of building houses framed with 2x4 studs, and builders there don’t use standard dimensions or grades of lumber. That makes it very difficult for Northwest mills to market their products in China. But Ekstrom says the demand for western-style houses is increasing.

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State of Washington acquires 50,000 acres

State of Washington acquires 50,000 acres | Timberland Investment | Scoop.it

The Washington State Department of Natural Resources (DNR), the Department of Fish and Wildlife (WDFW), and Forterra today announced the purchase of 50,272 acres in the headwaters of the Yakima Basin watershed.

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The $97 million Teanaway acquisition is the largest single land transaction in Washington State in 45 years and reflects more than a decade of collaboration involving many organizations and individuals, state officials said in a media release. 


The property will become Washington's first Community Forest, a model designed to empower communities to partner with DNR to purchase forests that support local economies and public recreation, said Peter Goldmark, Commissioner of Public Lands. 


The forest will be managed through a partnership between DNR and WDFW, with input from the local community and interested stakeholders.

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For over a decade, Forterra, a statewide non-profit conservation and land stewardship organization, worked with the landowner, American Forest Holdings LLC (AFH), to negotiate a purchase and structure the sale. The Yakima Basin coalition advocated the importance of the acquisition to the state Legislature. Forterra and AFH signed a sale agreement in April, which Forterra assigned to DNR after state lawmakers appropriated $87 million for the purchase in the 2013-15 State Capital Budget. DNR supplemented that amount with a $10 million loan from its Real Property Replacement Account.

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Pope Resources Announces $5.7 Million Conservation Sale

Pope Resources Announces $5.7 Million Conservation Sale | Timberland Investment | Scoop.it

Pope Resources (Nasdaq: POPE) announced a $5.7 million conservation sale to Columbia Land Trust of 2,330 acres on the southern flanks of Mount St. Helens. he sale conserves approximately nine miles of sensitive Pine Creek riparian habitat and adjacent forestlands. Pine Creek is a prime habitat for bull trout, a threatened species listed under the federal Endangered Species Act.

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This parcel, adjacent to Pine Creek, is part of a much larger Mount St. Helens Forest Conservation Project that is spearheaded by Columbia Land Trust and aims to protect from development 20,000 acres of working forest and critical wildlife habitat around the Swift Reservoir on the Lewis River.  The first of four parcels in the Mount St. Helens Forest Conservation Project was conserved in 2010.  With a Forest Legacy grant procured by Columbia Land Trust, the Washington State Department of Natural Resources was able to buy a conservation easement from Pope Resources in 2010 that permanently protects 6,886 acres of forestlands south of the reservoir from development.  Since the Pope Resources property is one of the county's largest private holdings, project proponents have worked to insure all conserved lands remain on the county tax rolls.


"We are pleased to see the second phase of this innovative project move forward, and we are very optimistic about another state grant that will help us conserve an additional 3,074 acres under a conservation easement," said Jon Rose, president of Olympic Property Group, Pope Resources' real estate subsidiary.

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Deadline nears for option on Pope land in Washington

Deadline nears for option on Pope land in Washington | Timberland Investment | Scoop.it

Sixty-three days. That’s how much time the Kitsap Forest & Bay Coalition has left in its option agreement to purchase up to 7,000 acres of North Kitsap timberland and shoreline from Pope Resources.


Jon Rose, president of Pope Resources’ Olympic Property Group, said he doesn’t think the coalition will raise enough money by the March 28 deadline to buy all of Pope’s North Kitsap land. But transactions are likely as the coalition and Pope consider a complex package of price offsets and funds from a variety of sources.


Pope Resources agreed in fall 2011 to keep the land off the market while the coalition raises money to purchase the land for conservation, public open space, trails and non-motorized access to the water.


The agreement expires March 28. After that, Pope Resources officials have said they plan to sell the unpurchased acreage, which is zoned rural wooded, or one home per 20-acre lot. Pope will then turn its attention to developing Port Gamble.

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An appraisal for the 7,000 acres has been completed and the appraised value accepted by Forterra and Pope; Johnston would not disclose the appraisal, saying it’s “proprietary information.”

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