Eastwood Forests Acquires 92,000 Acres of NY Forestland for Its Climate Smart Forestry Fund

Chapel Hill, North Carolina-based Eastwood Forests announced on Friday (2-2-24) that it had completed its acquisition of approximately 92,200 acres of forestland in New York. The area is the first property for its Climate Smart Forestry Fund.

“The Northway Property” is located in Essex, Fulton, Hamilton, Saratoga, Warren, and Washington Counties, within and around New York’s Adirondack Park.

According to a press release, the strategic acquisition marks a significant step toward Eastwood’s commitment to sustainable forest management and climate change mitigation, balancing forest conservation with the economic growth of the region.

Eastwood Forests said highlights of the investment include sustainable management, local economic benefits, natural climate solutions, and public access/recreation.

Eastwood Forests CEO Alex Finkral said:

“We are proud to continue the history of forest conservation and management in this part of New York. Northway is a terrific fit in our Fund that emphasizes natural forest management for diverse goods and services, while delivering attractive returns for our investors.”

Vice President of Forest Management Matt Sampson added:

“It’s really special that Eastwood’s first acquisition is in the Adirondacks. We have decades of collective history in the region. Our previous experiences were great, and we are really looking forward to working with the forest industry, recreational groups, and the Department of Environmental Conservation. It’s a beautiful forest, and a privilege to work there.”