Funds sponsored by The Lyme Timber Company LLC (“Lyme”) have sold their interests in 111,967 acres of coastal California timberlands, along with the management company established to manage the property to Redwood Timber Company LLC.
Lyme and affiliates of Redwood Timber Company LLC have been partners in the redwood timberlands since 2015. This planned transfer is the culmination of a successful partnership between the parties.
Property operations have been and will continue to be certified under the Sustainable Forestry Initiative® Forest Management Standard to ensure responsible and sustainable management of the forest resources.
As part of this transfer, the 18-person local forest management team in Fort Bragg, which has deep expertise and a long history working on these lands, will continue to manage the property.
According to Jim Hourdequin, CEO of Lyme, “Lyme is pleased to pass full ownership and management of this unique and inspiring property to a long-term owner, as we planned to do from the start”.