Company buys 29,019 acres of U.P. forestland

MANISTIQUE — Bluesource Sustainable Forests Co. has purchased 29,019 acres of forestland in the Upper Peninsula from the affiliates of The Lyme Timber Company. The property is spans areas in Schoolcraft, Mackinac, Alger, Chippewa, and Luce counties.

BSFC is a joint venture between Oak Hill Advisors, L.P. and Anew Climate, LLC. This purchase marks BSFC’s third forestland acquisition since its formation in October 2021, following two purchases totaling 52,000 acres in New York’s Adirondack region.

The U.P. property will add to the more than 90 North American forest carbon projects spanning more than 4 million acres that Anew currently manages in partnership with landowners, 11 of which are also located in Michigan.

“Michigan is a state that is rich in its forests, and it is an area where we have a successful and long track record of managing forests for carbon in partnership with a variety of landowners,” said Jamie Houston, president of BSFC in a press release. “We’re proud to have another opportunity to bring our direct knowledge and experience to bear here and show what’s possible. You can sustain logging in a way that doesn‚’t harm the environment, in a way that positively addresses the greatest challenge of our time.”

When deemed appropriate, BSFC plans to initiate a selective logging operation, well below annual growth levels.

“This will allow these forests to continue as working forestlands to support the local economy and produce high value forest products, while also developing carbon credits that are measured and verified,” Anew said.

To allow the forest to grow and carbon stocks to increase, selective harvesting is not planned in the immediate future for the property. Anew has stated it will ensure that the land will remain open for public recreational access and sustainably managed for the benefit of people and wildlife alike

BSFC visits to the property have identified a host of opportunities for the ecosystem through its protection. This area is an important migratory stopover for the sand crane, and its abundant milkweed supports pollinators such as the monarch butterfly. The property will also provide stable habitat for area mammals including deer, bear, and wolves.

“The Manistique acquisition is consistent with BSFC’s mission, expanding our growing portfolio of forestlands that are well-suited to sustainable management practices and carbon sequestration projects,’ said Adam Kertzner, portfolio manager & senior partner of OHA. “We are pleased to continue to execute our business plan and deploy capital that we believe will be accretive to our investors while providing tangible environmental benefits.”


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