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Timber Company Sells WA Land for $97M

BELLINGHAM, WA-The 51,000-acre transaction required three years of negotiation and the support of the Yakama Indian Nation, environmental groups, says a source.

By Natalie Dolce | Updated on November 20, 2013

BELLINGHAM, WA- Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that in what is said to be one of the largest single land purchases by a state in the Pacific Northwest, American Forest Holdings LLC recently sold 51,000 acres of timberland to the state of Washington for $97 million. “This deal preserves a significant river and forest ecosystem from the threat of future development and is a critical component of the State’s Yakima River Basin plan to enhance the supply of water to Eastern Washington,” says Les Jacobowitz, a finance partner at Arent Fox LLP, who advised the locally based company in the transaction.

“The community forest initiative keeps the land viable for recreation and wildlife conservation as well as appropriate timber harvesting to generate income for the State as well as to manage fire and infestation risk,” adds Jacobowitz.

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