X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BELLINGHAM, WA- Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that in what is said to be one of the largest single land purchases by a state in the Pacific Northwest, American Forest Holdings LLC recently sold 51,000 acres of timberland to the state of Washington for $97 million. “This deal preserves a significant river and forest ecosystem from the threat of future development and is a critical component of the State’s Yakima River Basin plan to enhance the supply of water to Eastern Washington,” says Les Jacobowitz, a finance partner at Arent Fox LLP, who advised the locally based company in the transaction.

“The community forest initiative keeps the land viable for recreation and wildlife conservation as well as appropriate timber harvesting to generate income for the State as well as to manage fire and infestation risk,” adds Jacobowitz.

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?

GlobeSt

Join 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
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.