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Value of Timber, Timberlands, and Development Property
The timberlands transferred to the Partnership consisted of
approximately 78,000 acres of timberland located in the Puget
Sound area of the State of Washington, within a 50-mile radius of
Seattle, Washington. According to petitioner's proxy statement,
which describes this transaction, the timberlands included
approximately 650 million board feet5 of commercial softwood
stands, 75 percent of which were Douglas fir and the remainder of
which were hemlock and other species. The proxy statement shows
the approximate age class distribution of petitioner’s softwood
stands in 1985 as follows:
Board Feet
Age Class (in millions) Percentage
0-39 years 41 6.2
40-49 years 327 49.8
50-59 years 127 19.3
60-69 years 75 11.4
70+ years 87 13.3
657 100.0
In general, petitioner harvested softwood stands after they
attained 50 years of age. According to the proxy statement, the
timberlands also included approximately 205 million board feet of
hardwood stands, consisting mostly of alder that had little
5A board foot is a unit of measure for sawtimber and lumber
that is 12-inches square and 1-inch thick.
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Last modified: May 25, 2011