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Twin Creeks Timber Acquires 121,000 Acres of Timberland in the U.S. South and Pacific Northwest

By 10/13/2017November 1st, 2022No Comments

SEATTLE, WA – October 3, 2017 – Twin Creeks Timber LLC (“Twin Creeks”), a joint venture originally formed in 2015 in part by Silver Creek Capital Management (“Silver Creek”), a $6.3 billion alternative investment manager, to enable institutions to directly invest in high quality timber assets alongside a timberland operator, today announced that it will add 121,000 acres of timberland to its portfolio.  Twin Creeks will purchase 100,000 acres located in the Southern U.S. from Weyerhaeuser Company (NYSE: WY) (“Weyerhaeuser”) and receive a contribution of 21,000 acres located in the Pacific Northwest from Green Diamond Resource Company (“Green Diamond”). Through the addition of these timber assets, Twin Creeks will increase its Southern portfolio to 360,000 acres and add the Pacific Northwest to its portfolio.  The timberland transactions are expected to close by year-end.

In conjunction with these timberland transactions, Twin Creeks also announced that it has repurchased Weyerhaeuser’s equity interest in the joint venture and will replace Weyerhaeuser as the joint venture’s timberland manager with a new manager effective January 1, 2018. Green Diamond will become a new equity partner in Twin Creeks and Green Diamond Management Company, a wholly-owned subsidiary of Green Diamond, will become manager of Twin Creeks’ timber assets portfolio. Twin Creeks’ timberland will continue to be certified under the Sustainable Forestry Initiative Standard®, the world’s largest forest certification system.

“We established Twin Creeks with the goal of taking a differentiated approach to institutional timber ownership by pairing sophisticated institutions directly with an operating partner. Green Diamond is well-recognized as a leading owner and manager in the forest products industry for over 125 years, and we are pleased to be partnering with them to build the Twin Creeks business for decades to come,” said Bob Ratliffe, President of Silver Creek and the Co-Portfolio Manager of Twin Creeks.”

Douglas Reed, President of Green Diamond, added, “As a family-owned business with roots dating to 1890, Green Diamond is committed to long-term, high quality stewardship of timberland properties.  We are delighted to invest in and manage for Twin Creeks as their approach is aligned with our own.”

Ratliffe concluded: “We are thrilled to have this series of transactions completed as it sets Twin Creeks on a path for success and further growth with a well-aligned set of partners.  We believe we have found an attractive combination and alignment with Green Diamond and a very supportive group of existing institutional partners, including a final one who has committed $250 million.  We are well prepared to grow and expand our portfolio of timber assets well into the future.”


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