Timberland Acquisition

3 Months Ended

Mar. 31, 2018

Timberland Acquisition [Abstract]

Timberland Acquisition

During the first quarter of 2018, the Partnership closed on four acquisitions of timberland in western Washington totaling 892 acres for $5.4 million. The Partnership utilized $598,000 of funds held by like-kind exchange intermediaries to fund a portion of these acquisitions. The aggregate purchase price was allocated $533,000 to land and $4.9 million to timber and roads. Part of the consideration paid for one of these transactions involved the conveyance by the Partnership of 365 acres of non-strategic timberland to the seller, valued at $214,000, with the remainder paid in cash.