Danish Pension Fund Buys 90,000+ Acres in New York
April 1, 2009 by Eric OKeefe
Published reports indicate that the Adirondack Chapter of the Nature Conservancy has sold 90,593+ acres of the former Finch Paper holdings to a subsidiary of the Danish pension fund ATP. The sale to ATP was handled on a sealed bid basis by LandVest. The acreage will be managed by RMK Timberland Group, a business unit partner of Regions Morgan Keegan Trust and Morgan Asset Management, and is subject to both a fiber supply agreement with the current owners of the Finch Pruyn mill and a conservation easement.
The Land Report reported on the original sale in the August 2007 issue (see below) and the estimated sales price per acre in 2007 was $683 per acre. According to the Timberland Blog, the 2009 purchase price was 180 million Kroners, which comes to about $361 per acre or almost 50 percent less than The Nature Conservancy paid two years ago primarily because of the conservation easement.
More Field Reports From The Land Report:- Sold! Steamboat’s Perry Ranch
A well-known Rocky Mountain landmark, Colorado’s 470-acre Perry Ranch, sold for $11 million ($23,000+ per acre). The sellers paid $13 million for the Routt County ranch in 2007 intending... - Historic Dahlstrom Ranch Conservation Easement Finalized
A conservation easement of historic proportions was purchased in the heart of the Texas Hill Country only a short drive from the Capitol of Texas. Hays County, the City... - Northeastern Landowners Get $165M For Natural Gas Rights
A coalition of landowners in one of the country’s emerging natural gas hot spots has reached an agreement to lease 30,000 acres to Fortuna Energy for natural gas drilling... - For Sale: 19,079-Acre Pineywoods Mitigation Bank in East Texas
One of the largest wetland mitigation banks in the nation is on the market. Located in Angelina, Jasper, and Polk Counties, the Pineywoods Mitigation Bank is currently the largest... - Western Massachusetts to Become National Forest?
Former Governor Mitt Romney’s proposal to designate the Berkshires and all of Western Massachusetts as national forest is being considered once again. Massachusetts is one of just six states...
News Feed
