Pope Resources reported that its private equity timber fund, ORM Timber Fund IV, completed two acquisitions totaling $113.9 million for 36,900 acres. These acquisitions include 20,000 acres located in southwest Oregon and 16,900 acres in western Washington.

Timberlands

Pope Resources announces two property acquisitions by ORM Timber Fund IV

Pope Resources reported that its private equity timber fund, ORM Timber Fund IV (REIT) Inc. ("Fund IV"), completed two acquisitions totaling $113.9 million for 36,900 acres.

Pope Resources (the "Partnership") co-invests 15% of the capital in all acquisitions by Fund IV, so the Partnership's portion of these recent acquisitions totals $17 million. These timberlands acquired by Fund IV include a significant proportion of currently merchantable timber which is expected to generate strong cash flows for Fund IV, and indirectly for the Partnership, in 2018 and beyond. Third-party fees resulting from managing these investments are expected to total $0.8 million per year.

These acquisitions include 20,000 acres located in southwest Oregon and 16,900 acres in western Washington. Both properties are great additions to the Partnership's look-through timberland portfolio and represent the start of a well-diversified portfolio of timberland for Fund IV. Following these acquisitions, Fund IV will have remaining committed capital of $273 million for investment in Pacific Northwest timberlands, defined as Washington, Oregon, Idaho, Montana, and the mixed conifer region of northern California.

Pope Resources, a publicly traded limited partnership, and its subsidiaries Olympic Resource Management and Olympic Property Group, own or manage 245,000 acres of timberland and development property in Washington, Oregon, and California.