Nuveen’s New Global Timberland Strategy Arm Purchases 47,751 Acres in US Pacific Northwest

Nuveen’s newly launched global timberland strategy arm, Nuveen Natural Capital, announced on Monday (12-12-22) that it has made its first portfolio acquisition, purchasing 47,751 acres of timberland in Washington and Oregon from Green Crow for an undisclosed amount.

Nuveen Natural Capital was launched last month, with a strategy of providing investors with target exposure to sustainable timberland investments in core geographies, including the US, Chile, Uruguay, Canada, New Zealand, and Australia.

The new vehicle is targeting a net total return of 5–7% pa through the sale of timber, land sales, carbon offsets, conservation easements, and natural appreciation of assets with a targeted cash yield of 2–3%.

The creation of the new “evergreen structure” comes a year after Nuveen merged its timberland and agricultural subsidiaries—GreenWood Resources and Westchester, respectively—into a single natural capital platform, forming part of a consolidated real assets arm.

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