Global natural asset manager New Forests has expanded its US timberland portfolio with the acquisition of 44,200 acres of forestry assets in Washington State from Campbell Global.
Primarily consisting of Douglas-fir and western hemlock, the plantation forest will be managed under an active harvest programme while New Forests looks to develop carbon projects and unlock further revenue from conservation easements and renewable energy.
The acquisition expands New Forests’ footprint across the US, which includes assets in Northern California, Southwestern Oregon and the US South.
Jeff Briggs, managing director, New Forests North America, said: “This quality asset provides us with scaled entry into the Pacific Northwest forestry market, which is the second largest forestry market in the US.
“It aligns with our overall thesis that sustainable forest management in North America has the potential to deliver attractive investment returns while positively contributing to the local economy and environment.”
Sam Rorabaugh, director, investments, New Forests, North America, said: “Washington State is a core timber market globally, and this investment allows us to access a high-quality, well-located estate with strong underlying market fundamentals.
“Our focus is on active management, optimising harvest rotations, enhancing species mix, and building asset value by accessing new markets such as carbon, to drive both yield and capital value. We see clear pathways to generate attractive, risk-adjusted returns for our investor while building sustainable long-term asset value.”
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