Market: Standing timber
19 October, 22:39
New Forests announced an agreement to purchase a 170,000-acre timberland estate in northern California from Roseburg Resources Co. The properties will be acquired by Shasta Cascade Timberlands LLC, an investment entity managed by New Forests. Settlement is expected in early 2018, as the company says in the press release received by Lesprom Network.
Following the acquisition of two other California forestry estates in 2016 and 2017, the Shasta Cascade Timberlands acquisition will bring New Forests’ total US timberland under management to 186,000 acres.
The acquired forests include high-quality stands of Douglas-fir, ponderosa pine, and other mixed conifers stretching across four major blocks from Redding north to Mount Shasta. Globally, New Forests manages more than 2 million acres of forestry, land, and conservation investments, including more than 450,000 acres of forest carbon projects for third-party landowners in the continental US and Alaska.