The Hancock Natural Resource Group (HNRG), on behalf of its clients, has retained LandVest, Inc. as transaction manager to solicit bids for their Wolverine Timberlands consisting of 92,200± unencumbered acres in the Upper Peninsula of Michigan. Wolverine Timberlands represents a quality investment in Michigan’s notable northern hardwood timber resource. This scaled investment opportunity is well suited for capital seeking investment-grade timberland. Sugar maple is the featured species and value driver for this investment. In total, the property carries nearly 262,000 MBF of sawtimber and an additional 2,100,000 cords of boltwood, pulpwood, and growing stock, offering ongoing opportunities to generate operating cash flows. Access is well established with a mix of public and private access and, in many cases, existing internal roads and infrastructure. The region enjoys an active and well-developed forestry services and forest products industry complete with all manner of service providers and forest product markets. This ownership is not encumbered by a conservation easement, and although this is substantially a pure timberland property, the configuration of tracts and parcels may provide for retail or compartment out-sale opportunities. Taxes are held low with enrollment of the ownership into Michigan’s Commercial Forest program.
Wolverine Timberlands is being offered in a single-stage bid format. Qualified bidders will be given access to a secured data room containing requisite property details and data necessary to prepare offers. Access to the data room will be secured by Non-Disclosure Agreement found under the "Property Documents" section above. Bids will be due at or before 1:00 pm EDT, September 25, 2019.
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