December 9, 2024

By Gerelyn Terzo, Global AgInvesting Media

Campbell Global, the timber investment manager owned by J.P. Morgan Asset Management, has expanded its portfolio. The firm has scooped up more than 40,000 acres of commercial timberland in the U.S. Pacific Northwest. Situated on the Olympic Peninsula in northwest Washington state, the assets have inherited the name Tyee in a nod to the Cascadia region’s indigenous Native American history. The latest deal comes on the heels of a recent mandate clinched by Campbell Global to invest in core traditional timberland across the U.S., Australia, New Zealand and Chile on behalf of U.K. pension giant Nest.

The newly purchased property, which comprises roughly 20 million standing trees of varying ages as well as wildlife, will be managed for both carbon capture and timber production amid rising demand for sustainable building products and other purposes. Stretching across more than 360 miles of streams, 165 miles of which includes a fish presence, the timberland already meets the Sustainable Forestry Initiative standard as 100 percent certified.

The property also includes thousands of acres of streamside riparian areas managed with the goal of preserving water quality to support diverse habitats for wildlife such as the spotted owl, bald eagles, osprey, deer, elk, bear and multiple species of salmon. Meanwhile, the wide range of tree species includes Western Hemlock, Douglas Fir, Sitka Spruce, cedar and alder.

While Campbell Global is keeping the details of the purchase close to the vest, there is plenty of timber acreage for sale in the Pacific Northwest. Among the listings is the Dabbler timber sale in Clark County, Washington State, comprising over 150 acres of forestry. This property, which mostly includes Douglas Fir trees, is scheduled to go to auction in early 2025. Managed by the Washington Department of Natural Resources, the timberland was appraised at $3.1 million, but estimates suggest the auction could drive the price higher.

Of the firm’s timber deal, Campbell Global President Angie Davis stated, “We are pleased to add Tyee to our timberland portfolio, expanding our footprint in the PNW where we have more than 40 years of experience. The acquisition of Tyee helps us provide new investments in sustainable forestry to our clients.”

Purchased by J.P. Morgan Asset Management in 2021, Campbell Global is widely acknowledged as an expert in forestry management and timberland investing, overseeing over 5 million acres globally for pension funds, foundations and other institutional investors.

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