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Pardee Resources Company acquires Virginia timberland

Pardee Resources Company acquires Virginia timberland | Timberland Investment | Scoop.it
PHILADELPHIA, Oct. 13, 2015 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") reports that a subsidiary has recently closed a transaction for the acquisition of 9,741 acres of softwood timberlands located in Culpeper, Fauquier, Fluvanna, Greene, Orange, Spotsylvania and Westmoreland Counties, Virginia. The Company invested $17 million for the acquisition of these properties, which amount was funded through available cash and bank financing. "This investment represents the Company's second softwood timberland investment, having acquired 7,728 acres of Virginia properties in 2010, and further diversifies our Timber Portfolio while expanding our softwood platform," said Carleton P. Erdman, President and Chief Executive Officer.
Sam Radcliffe's insight:

$1,745 per acre, generally in line with what other southern pine plantation properties have sold for in recent years.

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Langlade county (WI) buys forest land from Plum Creek

Langlade county (WI) buys forest land from Plum Creek | Timberland Investment | Scoop.it

Langlade County’s Board of Supervisors purchased 2352 acres of what's called prime woodland from Plum Creek Land Company for a price tag of just under $4 million. The land is all within the town of Langlade in the eastern part of the county.


County Forest Administrator Eric Rantala says the county received a Knowles­ Nelson Stewardship grant for half, or just under $2 million dollars. Rantala says it's a great timber resource. "It's heavily wooded, all productive high ground, mainly basswood, maple, ash, cherry,birch, ash, beautiful hardwoods. It's a well­ roaded block of property adjacent to county forest."


Rantala says the property will remain open to recreation. "It does have a recreational value to it currently a portion of the Langlade county snowmobile trail goes through it. It's been used for many years for people to hunt and it will remain open."

Rantala says the plans are to close on the property in February then start with timber sales in the spring.

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Keweenaw Land Association, Limited Announces a 4,980-Acre Land Acquisition in Upper Michigan

Keweenaw Land Association, Limited Announces a 4,980-Acre Land Acquisition in Upper Michigan | Timberland Investment | Scoop.it

Keweenaw Land Association, Limited (KEWL: OTC Pink) has announced the purchase of approximately 4,980 acres of timberland in the western Upper Peninsula of Michigan for $5.487 million.


The property is comprised of high-quality northern hardwoods that have been well-managed and is located in a very strong timber market. The property also includes a significant volume of high-quality merchantable timber, which can be harvested over the next few years.


The acquisition is part of Keweenaw’s strategy of acquiring and managing quality timberland properties in the Lake States Region for long-term growth and capital appreciation. With this acquisition, Keweenaw will own and manage over 167,000 acres in the western Upper Peninsula of Michigan and northern Wisconsin.

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Molpus Woodlands Group to Acquire 73,000 Acres in Alabama

Molpus Woodlands Group to Acquire 73,000 Acres in Alabama | Timberland Investment | Scoop.it

The Molpus Woodlands Group, LLC (Molpus), a timberland investment management organization headquartered in Jackson, Mississippi, has, on behalf of a client, entered into an agreement to purchase approximately 73,000 acres of timberland located north, east, and west of Birmingham, Alabama.  The close of the purchase is set to occur in installments starting in October 2013.


The timberland, located in thirteen counties, consists of well-stocked loblolly pine plantations distributed among all age classes.  Molpus currently maintains an office in Hoover, Alabama, to oversee the management of approximately 161,000 acres purchased earlier in the Birmingham area.


"We look forward to adding another property under management in the Alabama area," said Molpus Woodlands Group President, Dick Molpus.  "These properties represent a high-quality timberland investment within a competitive timber market, and they offer strong recreational opportunities to the region as well."


Molpus currently manages approximately 1.5 million acres of timberland investments in seventeen states and employs ninety-seven peope in its fifteen offices operating in Alabama, Arkansas, Florida, Georgia, Idaho, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, New York, North Carolina, Oklahoma, Pennsylvania, Tennessee, Texas, and Virginia. 

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Jack D Bridges's curator insight, October 16, 2013 11:13 AM

No mention of price for the deal, but let's assume that Molpus didn't acquire these timberlands for their client at a discount. It would be interesting to see how they break-down the pure timber value per acre, in addition to the HBU acreage involved. 

Thanks to S. Radcilffe at Prentiss & Carlisle for the scoop!

http://www.prentissandcarlisle.com/

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Ohio River partnership pieces together massive conservation trust in Western Kentucky with purchase from The Forestland Group

Ohio River partnership pieces together massive conservation trust in Western Kentucky with purchase from The Forestland Group | Timberland Investment | Scoop.it

Thousands of acres of lush forests, wildflower-filled meadows and ecologically rich marshes at the confluence of Western Kentucky’s Tradewater and Ohio rivers will be protected for future generations under a landmark conservation deal designed to help preserve the state’s fragile habitat.

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“It is by far one of the most beautiful landscapes I have seen in Kentucky, and there are some beautiful landscapes in Kentucky,” said Terry Cook head of the Kentucky office of the Nature Conservancy.


The private nonprofit land trust on Wednesday closed on a deal to pay an estimated $13.4 million to the land’s owner, North Carolina-based The Forestland Group LLC, before selling the land to the state.


It would further Kentucky’s effort to build “conservation islands” to help preserve the state’s native plants and animals, many of which are struggling as their habitat is lost to cities, farms and roads, as well as such invasive species as the emerald ash borer.


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Foreign investor buys into Kaingaroa Forest

Foreign investor buys into Kaingaroa Forest | Timberland Investment | Scoop.it

The Public Sector Pension Investment Board, one of Canada's largest pension investment managers, has bought 30 per cent of the shares in Kaingaroa Forest from Harvard Management Company, the endowment fund of Harvard University.

Harvard had a 60 per cent stake in Kaingaroa Forest and will retain a 28.75 per cent stake in the Forest.

As part of the transaction, the New Zealand Superannuation Fund had bought an additional 1.25 per cent stake, taking its total to 41.25 per cent.

The change in shareholding which was settled last week followed approval by the Overseas Investment Office in April.

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Mackays go bananas for Elders' Queensland timber land

Mackays go bananas for Elders' Queensland timber land | Timberland Investment | Scoop.it

AUSTRALIA'S biggest banana grower, Mackays, has purchased listed agricultural group Elders' timber properties Gold Tyne and Mount Ray outside Cooktown in far north Queensland for more than $10 million.


The purchase of the teak tree properties, which cover 3200 hectares of high-quality land, is a significant market transaction, showing a discount of about 40 per cent, reports The Australian Financial Review.


Elders purchased the properties in 2007 for $16.5 million, during a frenzy of managed investment scheme-backed buying.


Forestry companies purchased more than $100 million of high-quality land in north Queensland during 2007.


The Ark Fund, Great Southern and Elders-owned ITC Timberlands were the main buyers, contributing to what valuers at the time said were 20 per cent premiums to market prices.

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MN DNR: Land Transaction in Lake County Will Protect Working Forest

MN DNR: Land Transaction in Lake County Will Protect Working Forest | Timberland Investment | Scoop.it

A new 10,581 acre conservation easement in Lake County will boost Minnesota's role as a national leader in protecting forests, according to the Minnesota DNR.


The DNR and Marlow Timberland, a privately-held timberland holding company in Duluth, recently reached agreement on the easement, which stays in place permanently.


The agreement requires public access to the land for hunting, fishing and other outdoor recreation.


While Marlow Timberland maintains ownership of the land, the company must manage it using sustainable forest management methods. The forest land contains diverse, northern forest types and wetlands with nearly one mile of shoreline on three lakes and almost nine miles of stream and river miles.

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953,446 Deltic Timber shares move: Massachusetts-based company’s stock purchase worth $69 million

953,446 Deltic Timber shares move: Massachusetts-based company’s stock purchase worth $69 million | Timberland Investment | Scoop.it
An investment company bought 7.5 percent of Deltic Timber Corp.’s outstanding stock Thursday, the day after Deltic said it would purchase the remaining interest in an El Dorado-based fiberboard plant.
Sam Radcliffe's insight:

Full article requires subscription. Wellington Management, an asset manager and investment advisor, is the buyer. SEC filing here: http://www.sec.gov/Archives/edgar/data/902219/000090221913000146/sec_filing.htm

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State acquires 2,855 acres in Suffolk for preserve

State acquires 2,855 acres in Suffolk for preserve | Timberland Investment | Scoop.it

More than 2,800 acres of old timberland in Suffolk will become part of a new state nature preserve.


The Virginia Department of Conservation and Recreation recenlty acquired the property for $2 million. It previously was owned by International Paper.


The property and a 297-acre tract in Southhampton County will become the South Quay (KEE') Sandhills Natural Area Preserve.

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Lyme sells easement on 21,000 acres in Washington County, Maine

Lyme sells easement on 21,000 acres in Washington County, Maine | Timberland Investment | Scoop.it

The land, 21,870 acres in and adjacent to the plantation of Grand Lake Stream, is east of West Grand Lake and northwest of Big Lake. It is the “ last big piece” of a decade-long effort by local and state officials, and by Downeast Lakes Land Trust, to protect more than 350,000 acres of undeveloped woods enveloping the lakes of northern Washington County, according to Mark Berry executive director of the land trust.


The land, owned by Lyme Timber Co. of Hanover, N.H., abuts 33,708 acres already owned by the land trust and includes 17 miles of shoreline on West Grand, Big and Lower Oxbrook lakes. It includes frontage on Big Musquash Stream and conserves a quarter-mile section of the west side of Grand Lake Stream above Big Falls, according to a prepared statement about the completed easement.

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Berry said the land trust has a three-year option to buy the land outright from Lyme Timber Co.

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Rayonier acquires 62,000 Texas acres

Rayonier acquires 62,000 Texas acres | Timberland Investment | Scoop.it
Rayonier (NYSE:RYN) today announced it has acquired approximately 62,600 acres of timberlands in East Texas. The property, purchased from a private ownership group for $88 million, or $1,406 per acre, brings the company’s total ownership in Texas to over 150,000 acres.

“These timberlands, located in one of the most competitive wood baskets in the Gulf States, significantly increase Rayonier’s landholdings in Texas and enable us to better support our existing paper, pulp and solid wood customers,” said Paul G. Boynton, chairman, president and chief executive officer. “With the majority of this property located within 60 miles of the Houston metropolitan area, it also provides tremendous value creation potential for our higher-and-better-use land sales program.”

The timberlands are located principally in Liberty, Polk and Trinity counties. Rayonier owns, leases or manages approximately 2.7 million acres in 10 states in the U.S. and New Zealand.
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Jack D Bridges's curator insight, December 19, 2012 8:58 AM

I don't know who sold, but $1,400K/acre for a decent sized transaction seems a good price (without knowing the specie mix, stocking levels, and age-class of the timber)--especially with the apparent HBU value add to the land (60 miles from Houston metro). Deal flow looks steady into 2013...

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Province buys Bowater lands

Province buys Bowater lands | Timberland Investment | Scoop.it

Provincial taxpayers are the new owners of more than 220,000 hectares of forest land worth more than $100 million, part of a deal that will fund the pensions of former Bowater Mersey Paper Co. employees and eventually see Emera own Brooklyn Power Corp.


Premier Darrell Dexter announced the deal with Resolute Forest Products Inc. of Montreal and the Washington Post early Monday evening in a news release.

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It is not as simple as a straight purchase of the land, valued at $117.7 million. Resolute wanted a clean break from the Queens County paper mill, which it closed in June, and wanted to dispose of the assets in one sale. After close to six months of negotiations, the province has bought Bowater Mersey Paper Co. for $1, excluding the Oak Hill, Lunenburg County, sawmill.


The company comes with assets and liabilities. The only money that changes hands other than the $1 is an $18-million debt repayment, which Bowater owed to Resolute.


The liabilities also include $100 million to cover pension costs of union and non-union employees, plus another $18.4million in other employee costs and liabilities.

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Resolute had been the largest private landowner in the province, with the 220,000 hectares representing an area a bit bigger than Yarmouth County. The biggest portions of the land are in Annapolis County (89,200 hectares) and Queens County (63,100 hectares).


A portion of the land will be protected.


Under provincial accounting rules, the $117.7-million land value is added to the provincial debt. The land value works out to $535 a hectare, well below the $2,350 per hectare average for 10,100 hectares it bought in January as part of a deal to keep the mill running.

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The province expects to earn about $4 million annually in stumpage fees from the land within a couple of years, which would be enough to cover the increased debt-servicing costs.


The province has also purchased Brooklyn Power Corp., a 24-megawatt biomass facility valued at $25 million. It plans to sell it to Emera Inc., the parent of Nova Scotia Power, for that price. That purchase will have to be reviewed by the provincial Utility and Review Board, Dexter said.


The mill site itself is valued at $5 million. The province plans to turn that into a bioenergy and clean energy centre and will make an announcement with new tenants Wednesday.

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Great Southern Land sells 6,477 acres of timberland to 13 buyers

Great Southern Land sells 6,477 acres of timberland to 13 buyers | Timberland Investment | Scoop.it

Wetumpka, Al - Great Southern Land, LLC sold 45 tracts of timberland located in Coosa, Clay and Talladega counties to 13 different buyers by the sealed bid method of sale. The bid deadline date was November 20, 2014. The last sale was closed January 16, 2015.

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Expectations were to sell 30% to 70% of the property to high bidders on the bid date and the balance by private treaty over a 6 month to 3 years period. However, Great Southern Land was able to put all the property under contract within 5 days of the bid opening.

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Saline County Timberland Packed Into $13.5M Sale

Saline County Timberland Packed Into $13.5M Sale | Timberland Investment | Scoop.it

Almost 9,000 acres of timberland in western Saline County sold for $13.5 million.


Green Bay Packaging Inc. of Green Bay, Wis., bought the property from Weyerhaeuser Co. of Federal Way, Wash.


The 8,973 acres stretch from the Garland County line to within 4.5 miles of Paron and lie roughly 2 miles south of Lake Winona and 2 miles north of Hot Springs Village.


You might recall the two parties struck a $14.2 million deal for about 8,835 acres in Saline County back in 2011.


Both properties support Green Bay’s pulp and paperboard mill in Morrilton.

Sam Radcliffe's insight:

The arithmetic: $1,504 per acre.

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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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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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Pardee Resources Company sells 40k WV acres for $413/acre

Pardee Resources Company sells 40k WV acres for $413/acre | Timberland Investment | Scoop.it

PHILADELPHIA, July 1, 2013 /PRNewswire via COMTEX/ -- Pardee Resources Company PDER +2.98% announced today that its subsidiary, Pardee & Curtin Realty LLC, recently closed on the sale of 39,945 acres of surface and timber located in Kanawha and Fayette Counties, West Virginia to Quercus West Virginia, LLC for $16,500,000.

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UPM sells 1,100 hectares of forestland in Polvijärvi area of North Karelia

UPM sells 1,100 hectares of forestland in Polvijärvi area of North Karelia | Timberland Investment | Scoop.it

Taaleritehdas, a Finnish wealth management company has acquired about 1,100 hectares of forest land from UPM. The two forest estates purchased are located in North Karelia in the Polvijärvi area. The contract covers also a long term wood trade and forest services agreement. The parties have agreed not to disclose the purchase price, as UPM said in a press release received by Lesprom Network.


The contract now closed is the second forest estate purchase contract between UPM and the Taaleritehtaan Metsä fund. In January 2012 Taaleritehdas acquired 6,000 hectares of forest land in Pyhäntä, Kiuruvesi, Ilomantsi and Utajärvi in Finland. The fund plans to acquire more forest land during the next two years when suitable estates are available. Investors in the fund are private Finnish investors as well as institutional investors and organisations.

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Plum Creek Completes Purchase of Timberlands in Georgia and Alabama

Plum Creek Completes Purchase of Timberlands in Georgia and Alabama | Timberland Investment | Scoop.it

Plum Creek Timber Company, Inc. (NYSE: PCL) today announced the completion of the purchase of approximately 46,000 acres of timberlands in western Georgia and eastern Alabama from the Campbell Group, LLC for approximately $72 million.


"We are pleased to add these well-managed timberlands to our existing asset base in this attractive timber market," said Rick Holley, Plum Creek chief executive officer. "We're uniquely positioned to efficiently integrate these lands into our operations and generate an attractive return for our investors."


Plum Creek is one of the largest private landowner in the nation, and most geographically diverse, with approximately 6.4 million acres of timberlands in major timber producing regions of the United States and wood products manufacturing facilities in the Northwest. For more information, visit www.plumcreek.com.

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CalPERS to sell 20,000-acre Sonoma County forest

CalPERS to sell 20,000-acre Sonoma County forest | Timberland Investment | Scoop.it

A national conservation group has reached an agreement to buy nearly 20,000 acres of timberland in northwestern Sonoma County, a move that derails the long-disputed, forest-to-vineyards conversion project pushed by CalPERS, the giant state workers pension plan.


The $24.5 million purchase of the so-called Preservation Ranch, to be completed by the end of May, is led by The Conservation Fund, based in Virginia. It would contribute up to $6 million toward the purchase.

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The Conservation Fund owns and manages 55,000 acres of forest in Mendocino County and would use the new property for sustainable timber production and possibly for the sale of carbon credits.

The purchase would eliminate the threat of subdivision for rural estates and commercial vineyard development.

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Brookfield Infrastructure Reports Year-End 2012 Results; timber income down; $85 million deal completed

Brookfield Infrastructure Reports Year-End 2012 Results; timber income down; $85 million deal completed | Timberland Investment | Scoop.it

Brookfield Infrastructure posted solid results for the year ended December 31, 2012 with funds from operations ("FFO") totalling $462 million ($2.41 per unit) compared to FFO of $392 million ($2.41 per unit) in 2011. This 18% increase in year-over-year FFO was primarily driven by significant expansion projects that were successfully commissioned during the year and to a lesser extent, new investments. FFO per unit of $2.41 was flat compared to the prior year as investments made with proceeds from recent equity offerings did not fully contribute to cash flows during the year. Brookfield Infrastructure's payout ratio was 62%, which is well within its target range of 60%-70%, and it earned a solid AFFO yield of 10%.

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Brookfield Infrastructure's timber platform reported FFO of $22 million in 2012, compared to $33 million in the prior year. Results reflect soft demand from Asia early in the year, which caused average realized prices to decline by more than 7%, combined with operational restrictions due to a prolonged fire season that impacted its harvest in the second half of the year. For the year, exports represented 41% of total log sales, which was down from 47% in the prior year as demand in the domestic markets strengthened with early stages of recovery in the U.S. housing market.

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In December, Brookfield Infrastructure completed the sale of a 12.5% interest in its Canadian timberlands to an institutional investor for approximately $85 million, which is equivalent to its IFRS book value.

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New York buys Essex Chain of Lakes for $12.4 million

New York buys Essex Chain of Lakes for $12.4 million | Timberland Investment | Scoop.it

New York state taxpayers now own 18,294 additional acres of timberland that once largely comprised a working forest. 

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This sale is the first of several in queue, transferring former Finch, Pruyn and Co. property for preservation in the Adirondack Park.


The Essex Chain is roughly a third of the total 69,000 acres targeted for addition to the Forest Preserve in a deal announced by Gov. Andrew Cuomo last August. These are the last parcels of the 161,000-acre land transaction made by Finch, Pruyn to the Nature Conservancy in 2007.

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Stimson sells 28K acres in Kootenai River valley into conservation easement

Stimson sells 28K acres in Kootenai River valley into conservation easement | Timberland Investment | Scoop.it
A conservation project on 28,000 acres of prime wildlife habitat in northwest Montana’s lower Kootenai River valley offers permanent access and protection to tracts of land with high conservation values, while continuing to support recreation...
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Harvard sells down Kaingaroa forest stake

Harvard sells down Kaingaroa forest stake | Timberland Investment | Scoop.it
Harvard Management Company, which manages Harvard University's US$30.7 billion endowment fund, has sold down its stake in the central North Island Kaingaroa forest.

Canada's public sector pension fund picking up the bulk and the New Zealand Superannuation Fund taking a small bite.

Canada's C$64.5 billion Public Sector Pension Investment Board will take a 30 percent stake in the 178,000 hectare forest, while the NZ Super Fund lifted its share 1.25 percentage points to 41.25 percent. Harvard Management will keep a 28.75 percent stake in the forestry company.

No price was disclosed, though the NZ Super Fund valued its 40 percent share at $954 million as at June 30, indicating Harvard's previous 60 percent stake was valued at about $1.43 billion.

The Super Fund was keen on lifting its stake in the forest and was looking at ways to buy out Harvard earlier this year, having acquired a minority stake in the timberlands for some $300 million.

Harvard Management natural resources portfolio, which accounts for about 13 percent of its assets, consists of timberland, agricultural land and other resource bearing properties. The asset class made a return of 2.4 percent in the year ended June 30, and has delivered an average annual return of 12.7 percent.
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