Word: timbered
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Dates: during 2000-2009
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Less than eight years after amassing over 2,000 square miles of forest land, Harvard will sell two-thirds of its holdings in the United States and New Zealand—a combined area larger than Rhode Island—to the Hancock Timber Resource Group (HTRG), the Boston-based investment firm announced Wednesday...
Harvard owns the properties—or, in some cases, just the rights to use the lands—in order to plant trees and later cut them down and sell them as timber...
...statement yesterday, the Harvard Management Company (HMC), the steward of the University’s $22.6 billion endowment, said that it had “not lost [its] enthusiasm for timber as an asset class,” adding that it would “continue to acquire timber properties on an opportunistic basis...
Paku, who has relatives involved with timber operations in New Zealand, said that the forest industry there, which is fueled to a large extent by Asian demand, has lately been difficult...
...designed housing the old-fashioned way, comfortably dense, with a pleasantly irregular street grid and just enough stylistic variation. The basic model is an adapted Craftsman bungalow, circa 1920, but a buyer of a one-story house can mix and match from among four brick porches and four compatible timber gable ends...