12 Dec 2022
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Nuveen Natural Capital Completes Acquisition of 47,751 Acres in Washington and Oregon from the Green Crow Companies
Nuveen Natural Capital, a globally diversified asset management company specializing in natural capital investments, has completed the acquisition of 47,751 acres of timberland in Washington and Oregon from the Green Crow Companies.
The assets, purchased on behalf of clients invested in Nuveen’s flagship Global Timberland strategy, represent an opportunity for immediate, large scale capital deployment and provide outstanding market and geographic diversification. The assets are the first portfolio acquisition in the US Pacific Northwest and add to the current allocation in the US Mid-Atlantic Coast.
The Nuveen Global Timberland strategy was launched earlier this year and seeks to provide investors with targeted exposure to sustainable timberland investments in core geographies, including the US, Chile, Uruguay, Canada, New Zealand, and Australia.
As global investors seek to transition portfolios to net zero by 2050 timberland investments could play a significant role. The strategy provides a natural climate solution to reduce carbon emissions by producing more timber on less land, reducing emissions through efficient operating practices and sequestering and storing carbon in soil and trees. Natural climate solutions are the lowest-cost scalable route to climate mitigation and according to the World Resources Institute can provide up to 30% of the emissions reductions needed by 2030.
Speaking on the acquisition, Chris Lipton, Head of Timberland Investments at Nuveen Natural Capital, said:
“We are incredibly pleased and excited to have sourced such a high-quality, scaled timberland asset in an off-market transaction. It clearly demonstrates our depth of relationships in the timberland market and ability to deploy capital into sought after investment geographies.
We would like to thank the Green Crow Companies for the opportunity to continue managing these assets to the high standard they have set”