New Forests expands US forestry footprint

New Forests has expanded its presence in North America after acquiring 44,200 acres of forestry assets in Washington State, marking a significant addition to the firm's growing US portfolio.

The forestry assets, acquired from Campbell Global, are predominantly planted with Douglas-fir and western hemlock and are located near key processing infrastructure and export facilities, providing access to domestic and international timber markets.

The acquisition strengthens New Forests' position in the Pacific Northwest, one of the largest forestry regions in the United States and follows the firm's purchase of a 91,000-acre plantation forest in Oklahoma in late 2024.

New Forests North American managing director Jeff Briggs said the transaction represented a scaled entry into a strategically important market.

"This quality asset provides us with scaled entry into the Pacific Northwest forestry market, which is the second largest forestry market in the US," Briggs said.

"It aligns with our overall thesis that sustainable forest management in North America has the potential to deliver attractive investment returns while positively contributing to the local economy and environment," he said.

Beyond timber production, New Forests plans to explore additional revenue streams including carbon projects, conversation easements and renewable energy opportunities.

The property also supports a diverse ecological landscape, including habitat for species such as marbled murrelet, northern spotted owl, Roosevelt elk and North American black bear, creating opportunities for biodiversity and conservation initiatives.

New Forests North America director of investments Sam Rorabuagh   said the acquisition offered strong long-term fundamentals and multiple pathways for value creation.

"Washington State is a core timber market globally, and this investment allows us to access a high-quality, well-located estate with strong underlying market fundamentals. Our focus is on active management, optimising harvest rotations, enhancing species mix, and building asset value by accessing new markets such as carbon, to drive both yield and capital value," Rorabaugh said.

We see clear pathways to generate attractive, risk-adjusted returns for our investor while building sustainable long-term asset value," he said.

To support ongoing operations and local engagement, New Forests will partner with established forest management teams on Washingtons Olympic Peninsula.

The deal further expands the firms North American footprint, which now spans assets across the Pacific Northwest, Northern California, the US South and Oklahoma.