Properties
The Renwick property
The property is approximately 3,200 acres located in New Zealand. It consists predominately of mid-rotation radiata pine plantation established in the mid 1990's with a small component of Douglas Fir and Cypress. The investment strategy includes even aged intensive management of high quality pine grown on a 27 - 30 year cycle with harvest to begin about 2020. Advantages of Radiata pine are that the species is hardy, fast growing, and adapts to a variety of soil types, altitudes and climatic conditions. Renwick received Forest Stewardship Council certification in 2010.
The property is approximately 3,200 acres located in New Zealand. It consists predominately of mid-rotation radiata pine plantation established in the mid 1990's with a small component of Douglas Fir and Cypress. The investment strategy includes even aged intensive management of high quality pine grown on a 27 - 30 year cycle with harvest to begin about 2020. Advantages of Radiata pine are that the species is hardy, fast growing, and adapts to a variety of soil types, altitudes and climatic conditions. Renwick received Forest Stewardship Council certification in 2010.
In February 2011 Cambium sold the Renwick property. Net of sales commissions, other transaction costs, and taxes proceeds were approximately NZ$7.2 million. The land sales proceeds equate to approximately 120% of the Company's cost basis.
