Timberland investment group, Campbell Global, has acquired 100,000 acres of forest property in Washington State.
The forestland, managed as a working forest, is subject to a conservation easement, limiting future development on the land. The property primarily produces Douglas fir and western hemlock timber, according to a press release.
The previous manager of the property was Hancock Timber Resource Group.
“Campbell Global is dedicated to managing the timberlands we acquire with the highest standards of sustainability and environmental care,” said Campbell Global chief executive, John Gilleland. “We look forward to engaging with local contractors, vendors and customers within the region.”
The company will maintain the property’s Sustainable Forestry Intiative certification through third-party verification of the company’s management practices. Campbell Global will also engage in active reforestation efforts, according to the release.
Campbell Global manages more than 3 million acres worldwide, worth a total of $6 billion. The company describes itself as a vertically integrated opportunistic investor. As previously reported by Agri Investor, the company launched an expansion into Latin America and Australasia in early 2015.