April 10, 2024
(press release)
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| PROJECT TEAL 115,250± Acres Clallam and Jefferson Counties, Washington |
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| The Clallam Tree Farm, one of the Olympic Peninsula’s premier professionally managed timberland portfolios, is for sale for the first time since the 1940s. After approximately 80 years of exceptional stewardship, Rayonier Forest Resources, L.P. has retained LandVest, Inc. as the marketing and transaction manager for the disposition of this once-in-a-career opportunity. The entirety of this property provides a unique offering of significant scale at 115,250± acres (Project Teal). The offering is being broken into three investment units of roughly equivalent acreages: North Clallam Unit (40,800± acres), South Clallam Unit (36,985± acres), and the Jefferson Unit (31,344± acres). A fourth unit of 6,100± acres has been created northwest of Lake Crescent, along the Strait of Juan de Fuca. This strategic parcel, known as the Joyce Unit, has an older inventory profile, is located with direct access onto State Highway 112, and is just 30 miles to the west of the milling and export hub of Port Angeles. Any party that submits a competitive bid for one or more of the three main investment units will have the opportunity to submit a proposal for the Joyce Unit. Preference in awarding the winning Joyce Unit bid will be given to otherwise successful bidder(s) in this process. |
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| These Pacific Northwest timberlands are well stocked and fast growing. It is a conifer forest consisting primarily of planted Douglas-fir and western hemlock, with a Douglas-fir priority for every environment where the species will thrive. There are also components of western red cedar and Sitka spruce mixed in closer to the coast, noble and silver fir at higher elevations, and stands of commercial hardwoods found throughout the asset. Project Teal is located in the Western Olympic Peninsula, one of the finest timberland growing regions in North America. This asset has been intensively managed through several rotations with industry-leading tree genetics and market-driven silviculture practices,which a future owner will benefit from for decades to come. Project Teal has a unique combination of strong biological growth coupled with a rich ecosystem comprised of diverse plant and animal species, making it an excellent investment opportunity for timber, carbon, and conservation-oriented investors. |
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| Across the Jefferson Unit to the Pacific Ocean. |
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| The property is located and effectively managed within eight (8) major watersheds from the Hoko River watershed in the north down to the Clearwater River watershed on the southern end. There are six major bodies of water within, abutting, or with proximity to the property, including the Pacific Ocean, the Strait of Juan de Fuca, Ozette Lake, Lake Pleasant, Dickey Lake, and Wentworth Lake. This property is at the intersection of the Olympic National Forest, the Olympic National Park, and significant Washington State Trust Lands. All these factors create unparalleled opportunities for off-take, preserving, enhancing, and/or monetizing conservation values. The property has a long history of third-party certification to sustainable forest management standards. This management discipline is demonstrated in the exemplary conditions of the streams, roads, culverts, bridges, and the landscape of mature forests and highly productive pre-merchantable stands. Nearby log markets include domestic sawmill, chip, and barging operations. The property also benefits from an affiliated price-competitive Asian log export operation and an emerging Canadian export opportunity for both logs and fiber into an increasingly supply-constrained British Columbia. Upon mutual execution, and subject to the terms of the Confidentiality Agreement and Right of Entry, qualified and interested parties will be permitted access to the gated property and to a virtual data room containing detailed due diligence information on the offering. Project Teal is offered for sale through a single-stage, sealed-bid process, and bids will be due on June 6, 2024. CLICK HERE FOR THE CONFIDENTIALITY AGREEMENT CLICK HERE FOR THE RIGHT OF ENTRY AGREEMENT |
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| For more information, please contact: |
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