Crown Pacific says company no longer up for sale

PORTLAND- However, the board has authorized exploration of other options, including the sale of selected non-strategic assets and the conversion of the company to a real estate investment trust (REIT).

By Brian K. Miller | Updated on August 22, 2000

Forest products company Crown Pacific Partners L.P. is no longer pursuing the sale of the company because of current weak lumber market conditions, says Crown’s CEO Peter Stott.

However, the board has authorized exploration of other options, including the sale of selected non-strategic assets and the conversion of the company to a real estate investment trust (REIT).

The CEO explained that because of recent developments employing the tax efficient REIT structure to acquire timber, the company is interested in determining whether this investment vehicle may be a more appropriate structure for growth.

Crown Pacific announced in March that it would explore alternatives to increase unitholder value with its advisor, UBS Warburg.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

Dig Deeper

Portland, OR

Recommended Stories

Tracking Private CRE Transaction Trends

Courtney Fingar | March 24, 2023

If nothing else, these ups and downs demonstrate the resiliency of CRE.

Middle Market Digest: This Week in the South and Mountain Regions

Lisa Brown | August 10, 2018

Here’s a look at the trends, announcements and deals you may have missed in Texas, New Mexico, Colorado, Oklahoma and Arkansas.

Renovated Suburban Properties Filling Up

Brian J. Rogal | August 08, 2018

Spending several million dollars on renovations can attract enough tenants to fill up properties once plagued by vacancies.

Resource Center

The travel industry experienced a critical disruption with the pandemic. This white paper explores the lingering effects of the pandemic, takes a closer look at evolving traveler behavior, and analyzes what the resulting impacts are on foot traffic and surrounding businesses.

White Paper

Sponsored by Placer Labs Inc.

Navigating a New Normal in Business Travel

The travel industry experienced a critical disruption with the pandemic. This white paper explores the lingering effects of the pandemic, takes a closer look at evolving traveler behavior, and analyzes what the resulting impacts are on foot traffic and surrounding businesses.

Browse More Resources ›

Retailers faced a wide range of challenges in 2022. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023.

White Paper

Sponsored by Placer Labs Inc.

10 Top Retail Brands to Watch in 2023

Retailers faced a wide range of challenges in 2022. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023.

Browse More Resources ›

The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. What does this mean for CRE professionals? Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data.

eBook

Sponsored by PwC

Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility

The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. What does this mean for CRE professionals? Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.