23 Sep 2021
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Real estate news
GreenWood Resources and Columbia Land Trust Conserve 2,500 Acres of Working Coastal Forest
GreenWood Resources and regional conservation organizations partner to protect four square miles of iconic forested hills along the northern Oregon coast.
GreenWood Resources, the timberland investment manager of Nuveen, and a conservation consortium including Columbia Land Trust, North Coast Land Conservancy, and Sustainable Northwest today announced the conservation of more than 2,500 acres of forestland along Highway 101 between the towns of Astoria and Seaside in Clatsop County, Oregon. The project will protect the working forest from future development or subdivision, ensure tribal and public access, and preserve water quality through Columbia Land Trust’s purchase of a conservation easement. GreenWood will continue to own and manage the property for forestry, preserving the jobs, timber supply, and tax base it provides.
“We are pleased to work with our conservation partners to assure that these working forests keep on working,” said Mark Morgans, Director of North American Forest Operations at GreenWood Resources. “We remain committed to natural resource stewardship and sustainably growing forests for the many benefits they provide.”
Protecting these coastal Oregon forests is critical because in addition to providing beloved scenery and recreational opportunities, they store large quantities of carbon, provide fresh water for coastal communities, and generate sustainable wood products. The easement will enlarge protected riparian areas around streams and enrich habitat for the region’s elk herds, building on recommendations from the Clatsop Plains Elk Collaborative.
“This is a great example of what can be achieved when conservation organizations and a timber company work collaboratively to protect our forests,” said Dan Roix, Director of Columbia Land Trust Conservation. “We are proud to be part of the local communities that recognize the important role Oregon’s coastal forestland plays in climate change mitigation, clean water, thriving wildlife, and natural beauty.”
The new conservation protections support the Land Trust’s goal to leverage the natural climate solution that Northwest forests offer; combating climate change by sequestering carbon and creating connected, climate resilient landscapes.
Columbia Land Trust worked collaboratively with North Coast Land Conservancy and Sustainable Northwest to bring the project to completion and advance shared conservation goals.
“After years of working toward a forestry conservation project with GreenWood and securing more than $2 million in funding, we were delighted when Columbia Land Trust accepted our invitation to step in to hold and steward this easement,” said Katie Voelke, Executive Director of North Coast Land Conservancy. “In addition to helping this project succeed, the Land Trust’s partnership freed up our resources to focus on the Rainforest Reserve, another significant conservation project happening concurrently on the Oregon coast. It's exciting and hopeful to have conservation and forestry working together in these critical and valuable ways.”
The conserved land will remain open to Native American tribes for cultural uses and the public for low impact recreation, including deer and elk hunting.
The parties would also like to thank US Forest Capital who helped originate this conservation opportunity and advised on the transaction.
About Columbia Land Trust
Columbia Land Trust is a non-profit organization focused on conserving and caring for the vital lands, waters and wildlife of the Columbia River region. The Land Trust has conserved more than 50,000 acres of land, from the high deserts to the coasts of Oregon and Washington. Columbia Land Trust has earned accreditation from the Land Trust Alliance, which recognizes those land trusts that adhere to national standards for excellence, uphold public trust with rigorous ethical standards, and take steps to ensure that conservation efforts are permanent.
About GreenWood Resources
GreenWood Resources, an affiliate of Nuveen, is a globally diversified investment and asset management company specializing in the acquisition and stewardship of forestry assets. Backed by the power of science and people, we create value for investors through rigorous forest management strategies in selected regions of the world. With professionals working in field locations across North America, Latin America, and Europe, we develop unique investment opportunities with a disciplined management approach to meet investor objectives while being good stewards of natural resources.
About US Forest Capital
US Forest Capital works with people and organizations seeking impact investment and conservation finance opportunities in the natural resource sectors. Forest Capital has helped their clients assess and close nearly $300 million in conservation, carbon and ecosystem service transactions that demonstrate unique environmental, social and governance attributes.