Green Diamond offers Washington timberlands

RICHMOND, VA , July 03, 2008 (RISI) - Northwest timberland owner Green Diamond, through investment bankers, is selling 115,000 acres in western Washington, contacts told RISI’s Timberland Markets. "It's pretty young stock, but has great site productivity," one contact noted. Bids this summer could fetch "in the neighborhood of $400 million," based on recent comps, another source added. Without any timber supply obligations, Green Diamond is described as a pure asset sale, attractive to investors.

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