In a monumental move within the timber industry, Rayonier Inc. (NYSE: RYN) has set the stage for a most significant timberland transactions in recent history. The Clallam Tree Farm, a property in the heart of the Pacific Northwest’s Olympic Peninsula, is now up for sale.
The Clallam Tree Farm, part of Rayonier Forest Resources, L.P.’s vast holdings, spans 115,250 acres of forestland. The property is located within the Douglas-fir region of the upper-west Olympic Peninsula. With nine miles of the North Fork of the Calawah River meandering through its expanse and neighboring the Olympic National Forest, this property stands as a testament to managed forestry.
Rayonier’s decision to put the Clallam Tree Farm on the market marks the first time this property has been available for acquisition since the 1940s. With nearly eight decades of stewardship, the property is a legacy of sustainable forest management.
Managed by LandVest, Inc., the marketing and transaction manager for this opportunity, the Clallam Tree Farm is divided into three main investment units: the North Clallam Unit, the South Clallam Unit, and the Jefferson Unit. Additionally, a fourth unit, the Joyce Unit, offers a strategic parcel northwest of Lake Crescent.
The property description on the LandVest website states. “With well-maintained streams, roads, culverts, and bridges, as well as mature forests and highly productive stands, the property exemplifies the harmonious coexistence of economic viability and environmental responsibility.”
The website invites prospective buyers to participate in a single-stage, sealed-bid process, with bids due on June 6, 2024. Upon mutual execution and subject to the terms of the Confidentiality Agreement and Right of Entry, interested parties will gain access to detailed due diligence information on the offering.
In December 2023 businesswire.com announced that Rayonier Inc. (NYSE:RYN) had completed its previously announced disposition of 55,000 acres of timberland in Oregon to Manulife Investment Management on behalf of clients for $242 million (~$4,400 per acre).
Businesswire.com also shared the following statement, “Successfully closing on this asset sale is an important step toward effectuating the asset disposition and capital structure realignment plan that we announced on November 1st, targeting $1 billion of select asset sales over 18 months,” said David Nunes, Chief Executive Officer.
With the Clallam Tree Farm poised to change hands, and as the bidding process unfolds, all eyes are on this historic transaction, destined to leave an indelible mark on the landscape of the Pacific Northwest.
