Timbervest parcel in Placer County, California, remains for sale; 4,838-acre tract offers potential for more than 54.5 mmbf of lumber ready for harvest, projected 3.3%/year growth rate
July 9, 2012
(Industry Intelligence Inc.)
– Almost 5,000 acres of California timberland put up for sale by Timbervest LLC remains on the market after a June auction failed to produce a successful bid at the asking price of just under US$10 million, the Auburn Journal reported on July 8.
The 4,838-acre ‘Greengold’ Foresthill tract remains listed with Realty Marketing/Northwest based in Portland, Oregon, whose President John Rosenthal was optimistic the property would be sold.
Rosenthal said the land’s timber production potential extended to more than 54.5 million board feet of lumber ready for harvest and a projected annual growth rate of 3.3%.
An asking price of $9.6 million price was to have been a starting bid as established by Atlanta, Georgia-based Timbervest, Rosenthal said in a previous interview with the Auburn Journal.
The land was once part of the Hughes Brothers Lumber Co. holdings. In the mid-20th century, Hughes was Placer County’s largest locally owned manufacturing business, according to the newspaper.
American Forest Products in 1968 bought the remote property in 1968 and eventually was acquired by Timbervest, which manages 825,000 acres of U.S. timberland, timber-related assets and investments with a market value of more than $1.78 billion.
The primary source of this article is the Auburn Journal, Auburn, California, July 8, 2012.