Fundraising - SEPTEMBER 16, 2015

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Silver Creek to launch $1b timber JV

by Andrea Waitrovich

Silver Creek Capital Management has created a joint venture with Plum Creek Timber Co. to make direct investments in high-quality timber assets.

The joint venture, known as Twin Creeks Timber, will provide institutional investors an opportunity to co-invest in timberlands currently managed by Plum Creek with the objective of growing the portfolio to approximately $1 billion in valuation over time through opportunistic, selective timberland acquisitions from third parties. The venture is intended to be a long-term timberland investment with an initial 15-year term. The initial portfolio, valued at $560 million, will consist of 260,000 acres of timberland located in five states in the southern United States sourced from Plum Creek.

The REIT will retain a 25 percent  interest in Twin Creeks and will serve as property manager of the timber assets. Silver Creek will provide fund management and fiduciary services to the venture.

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