POULSBO, Wash., Jan. 3, 2017 /PRNewswire/ -- Pope Resources (Nasdaq: POPE) announced today recent closings of conservation sales from its Hood Canal tree farm in Jefferson and Kitsap counties totaling $5.3 million. The sale transactions comprise the following: 1,361 acres of timberland to Forterra, which will ultimately be transferred to Kitsap County; 159 acres of timberland to the Washington State Department of Natural Resources; and a conservation easement covering 1,497 acres of timberland to The Trust for Public Land. The conservation easement sale precludes future development but allows continuing timberland operations. Under the sale to Forterra, the Partnership will retain the right to harvest timber on that 1,361-acre parcel for 25 years.
"Each of these conservation transactions serves a different purpose," said Tom Ringo, President and CEO, "But what they share in common is lessening potential future land use conflicts together with balancing recreational and economic uses."