Domain Timber Advisors Sells 1,300 Acres in Richmond County, Virginia, for Solar Energy Project

Domain Capital Group, LLC, a private investment management service firm, and its subsidiary, Domain Timber Advisors, LLC, announced on Thursday (8-24-23) the disposition of nearly 1,300 contiguous acres of timberland to a local utility company located in Richmond County, Virginia, for the development of solar energy generation capacity.

According to Domain, the sale came from a portfolio of more than 23,000 acres of timberland the company has assembled across multiple investment accounts to support renewable energy projects, primarily those focused on solar and wind.

The closing of this latest transaction keeps Domain Timber Advisors on track to achieve a projected 75 sales in 2023, comprising of more than 17,500 acres from a total inventory exceeding 254,000 acres.

Commenting on the transaction, Domain Timber Advisors Vice President of Investments and Environmental Assets Alton Owens said:

“We believe this is a clear example of Domain’s strategy to realize value above traditional core timberland returns though the implementation of ‘highest and best-use’ land sales and other value-added initiatives.

While the forested habitat will ultimately be converted to a different land use, we believe that solar energy development is an important tool in reducing our nation’s greenhouse gas emissions, mitigating climate change, combating loss of biodiversity and decreasing reliance of foreign energy resources.”