Areas of Emphasis

•  Strategic Risk Assessment
Successful forestland investment requires a broad knowledge of the constituencies and elements that influence strategic risk and portfolio design. These include current conditions and trends in the forest products industry; relevant investors; federal, state, and local agencies; legislators; and organized conservation interests. R&A is experienced in dealing with all of these factors.

•  Valuation, Due Diligence, Investment Analysis
The risks inherent in timberland investment are often understated, and successful investment performance results in large part from attentive acquisition. R&A is equipped to address much more than the evident market and biological risks. We have experience with the often hidden risks of interface with regulatory agencies, fit within the community, and, in particular, the impact of conservation interests.

R&A Investment Forestry has conducted numerous acquisition processes for institutional timberland investments. We are expert in the appraisal process and have a clear sense of the difference between appraisal and investment analysis. We are current on market conditions and are skilled at valuation and due diligence for both buyer and seller.

•  Conservation
Due to public concerns for clean water, clean air, climate change, biodiversity, and development pressure, conservation interests play a critical role in forest investment. R&A Investment Forestry is experienced in structuring conservation/financial investment partnerships and is currently working with several conservation organizations to create partnerships between conservation and financial investors in the acquisition of timberland. R&A has a broad knowledge of conservation valuation, both of fee simple and easement interests, the needs and constraints of conservation funding, and the attributes and risks of conservation easements. R&A works regularly with key conservation organizations, including The Nature Conservancy, The Trust for Public Land , The Conservation Fund, and Pacific Forest Trust.

•  Acquisition Sourcing
Good portfolio management entails diversification across regions and markets. Through its broad network of associates and acquisition partners, R&A assists institutional and high net worth investors and investment managers in making diversified forest investments. R&A has helped many clients locate acquisition opportunities in a variety of regions, including the U.S., Canada, Australia, and New Zealand .

•  Financial Structuring and Analysis
R&A has well-developed financial structuring skills with expertise in supply agreements and structured finance in partnerships between timberland investors, and between investors and industry.

•  Regulation and Policy.
Forest practice reform and environmental regulation are far from static. R&A brings up-to-the-minute expertise to the influence of these factors on the value of debt and equity investments.

In California , R&A has current relationships with key California regulatory agencies, including the California Department of Forestry, State and Regional Water Boards, State and Federal Departments of Fish and Game, The California Department of Justice, as well as key North Coast politicians. Jim Rinehart frequently attends meetings of the Board of Forestry, State and Regional Water Boards, and other key regulatory agencies.