Affiliates of The Lyme Timber Company sell wetland and stream mitigation banks in Virginia and West Virginia
December 2, 2024 – Investment funds managed by The Lyme Timber Company LLC (“Lyme”) have sold one wetland mitigation bank in Virginia and five stream mitigation banks in West Virginia to a fund managed by Texas-based Conservation Equity Management. Mitigation banks are undeveloped properties that had previously suffered environmental degradation but are then restored to their previous ecological function under close regulatory supervision.
Lyme established the Back Mountain Mitigation Bank in rural central Virginia after acquiring the property in 2021. The property borders the Willis River and features wetlands, pine and hardwood forests, and open pasture. In partnership with Eco-Capital Advisors (ECA), Lyme restored and enhanced forested and emergent wetland systems with improved hydrology, planted native vegetation, and restored streams and stream buffers.
Spread across five West Virginia counties, the Bunrootis stream mitigation banks were acquired and permitted by Lyme and ECA starting in 2015. Restoration work on these properties consisted of removing cattle, perpetually conserving the streams and associated buffers with conservation easements, and then physically relocating and otherwise creating new stream beds and corridors as close to their historical condition as possible.
The Conservation Equity Management team has more than 30 years of experience identifying conservation and environmental mitigation assets while applying value-driven ecosystem enhancement techniques. David Hoffer, President of Lyme, commented, “Lyme and ECA are pleased to hand over management of these important ecological resources to experienced mitigation banking professionals who will continue our history of responsible environmental stewardship.”
For further information please contact:
David Hoffer – The Lyme Timber Company (dhoffer@lymetimber.com, 603-643-3300 x1110)
Steele Schottenheimer – Conservation Equity Management (ss@cem-tx.com, 214-347-8045)