Fulfilling a Family Conservation Legacy
LandVest, on behalf of a long-standing family client, successfully closed the sale of Oakley Forest in Spotsylvania County, Virginia on September 1. The sale, conveyed to the Virginia Department of Game and Inland Fisheries, was nearly two years in the making. With this transaction, LandVest helped to fulfill the owners’ goal of liquidating important family land assets, as well as preserving a multi-generational legacy of land conservation and stewardship. In addition to achieving the owner’s disposition goals, the sales price – exceeding $3,100 per acre – is a regional record for timberland in this size class.
“Oakley is one of the finest private timberland assets I’ve ever had the pleasure of working on,” says Jon McGrath, Forestry Project Manager for the transaction. “The price truly reflects its exceptional value.”
The Oakley project represents LandVest’s multi-discipline approach to complex transactions. While the sale process itself spanned nearly two years, LandVest’s Real Estate Consulting Group (RECG) has been working with the family and the property dating back to 1999.
Jim Monahan, Senior Advisor in the RECG group, notes, “I view the Spotsylvania project as a classic LandVest puzzle that worked out well for everyone involved, especially with such an exceptional long-term client. The closing of a file like Oakley is bittersweet. Properties of this caliber are increasingly hard to replace.”
In addition to RECG’s long-term valuation and planning services and the Timberland Marketing Group’s disposition planning and project execution, the process included the Timberland Management & Consulting group for timber inventory, as well as our in-house mapping and graphics teams. While each discipline within LandVest is focused on delivering their own unique advisory services, it is especially rewarding to showcase our groups working collaboratively for such a great client.