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PARTNERSHIP TIMBERLAND ACQUISITIONS
12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
PARTNERSHIP TIMBERLAND ACQUISITIONS
PARTNERSHIP TIMBERLAND ACQUISITIONS

During 2018, the Partnership closed on several acquisitions in western Washington totaling 1,342 acres for $7.2 million. The aggregate purchase price was allocated $6.3 million to timber and roads and $869,000 to the underlying land. The Partnership utilized $598,000 of funds held by like-kind exchange intermediaries to fund a portion of these acquisitions. 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

During 2019, the Partnership closed on several acquisitions of timberland in western Washington totaling 322 acres for $751,000. The aggregate purchase price was allocated $653,000 to timber and roads and $98,000 to the underlying land.