Investment manager New Forests acquires 10,400 acres of Humboldt County timberlands from Soper Company. The estate is known as the Pine Creek Timberlands and completes the placement of an investment fund focused on high carbon value forests in California.
“New Forests is pleased to acquire these high-quality Northern California timberlands,” said Jon Loevner, Manager of US Investments for New Forests. “The Pine Creek Timberlands are an excellent fit with New Forests’ investment strategy in the US, whereby we manage forests to optimize revenues from a combination of timber harvest and carbon offset sales. This strategy enables us to lengthen harvest rotations to create higher value, larger logs while at the same time delivering a measurable, verifiable climate benefit through California Carbon Offsets.”
“The world’s forests are a critical resource for climate change mitigation, with forests and land use offering up to 30% of mitigation potential through 2030,” said Brian Shillinglaw, Executive Director of New Forests Inc. “New Forests’ US timberland investment program responds to this challenge by applying New Forests’ deep forestry and carbon asset investment expertise to the US timberland market, delivering market-rate climate impact investment solutions to institutional investors.”
The Pine Creek Timberlands include Douglas fir, mixed hardwoods, and redwood stands. The property has historically been managed for high value Douglas fir timber. The estate complements the recent acquisition of a predominantly redwood and Douglas fir forest with parcels located near Eureka on behalf of the same fund.
The settlement on Pine Creek Timberlands brings New Forests’ US timberland assets under management to 186,000 acres. The company also manages more than 500,000 acres of forest carbon offset projects throughout the continental United States and Alaska. Globally, New Forests manages around 2.3 million acres (915,000 hectares) of forests and conservation investments with assets under management of approximately $3.7 billion.
New Forests is one of the world’s largest forestry investment managers and has been headquartered and operating in Australia since 2005.
