Who Will Own the Forest? 13 is a 2.5 day event, beginning with an evening reception on September 12, conference sessions and evening reception on September 13, and conference sessions on September 14.
Continuing Education credits:
- Society of American Foresters
- Oregon Real Estate Appraisers
- Washington Real Estate Appraisers
- Oregon State Bar
- Oregon Certified Public Accountants
The 7th Forest Products Forum on September 12, 2017 will precede WWOTF13 at the World Forestry Center in Portland, Oregon.
The 2017 Agenda is under development. Below is the 2016 program.
Tuesday, September 20, 2016
5:00 – 8:00 PM: Opening Reception at WFC Discovery Museum
Enjoy cocktails, refreshments and hors d’oeuvres inside one of Portland’s major tourist attractions, the World Forestry Center’s Discovery Museum.
The opening reception has become a must-attend event, a great way to meet up with clients and old friends before the conference session starts the following day.
Reception is open only to those registered for either WWOTF or The Forest Products Forum.
Wednesday, September 21, 2016
7:00 – 8:30 AM Women in Timber Breakfast Social in Mount Hood Rm of Museum
Ladies, please join us for a networking event sponsored by hosts Sutherland and Schwabe.
Event is free with conference registration.
7:30 – 9:00 AM Registration in Miller Hall
Session 1: Macroeconomic Drivers Impacting Timber Demand
9:00 – 9:20 AM Impact of Demographic Changes on Multi-family vs Single family Housing and Wood Demand
Hugues Rinfret, MetLife
9:20 – 9:40 Manufacturing Trends Impacting Timber
Art Schmon, Forest Economic Advisors
9:40 – 10:00 European and Asian Biomass and Wood Pellet Markets
Seth Walker, RISI
10:00 – 10:30 AM Morning Break
Session 2: Outside Perspectives on Timberland as an Asset Class
10:30 – 11:00 AM Where Trees are Tenants: Timberland and Real Estate Investment
Timberland is often categorized by investors in the same category as real assets, and for good reason. Many of the same characteristics long associated with timberland are practically identical to commercial and investment real estate, including regular income returns, capital appreciation, low correlation with other asset classes, inflation hedging, lower liquidity, and the need for active management. The similarities go even further when looking at the trajectory towards widespread acceptance as an institutional investment. The talk will focus on the evolution of ownership from industry-specific players to institutions, securitization – including equity (REITS) and debt (for real estate – mortgage-backed securities), and geographic expansion of ownership, from the national and now to the global. In many respects, timberland investing is where institutional real estate was in the early to mid-1990s. There are lessons for timberland from real estate’s evolution, while there are also some distinct differences worth contrasting. David Lindahl brings a breadth of experience from commercial and investment real estate to the timber industry.
David Lindahl, Global Forest Partners
11:00 – 11:50 AM Panel Discussion: Timber vs Other Asset Classes
While interest in timberland in the 2000-2010 period was driven by the desire for portfolio diversification, investors now appear more interested in total return, and timberland is being benchmarked against a broader set of illiquid opportunities. Picking up on the themes discussed in David Lindahl’s talk, the panel will compare timber to agriculture and real estate. How has timber performed relative to other illiquid long duration assets? What are investor expectations going forward and how does timber fit into a real asset or natural resource portfolio?
Moderator Jim Hourdequin, The Lyme Timber Company
- Jim Gasperoni, Aberdeen Asset Management
- Troy Schell, Aether Investments
- Dillon Lorda, Pension Consulting Alliance
11:50 AM – 1:00 PM Lunch in Plaza
Session 3: Inside Perspectives on Timberland
1:00 – 2:00 PM Panel Discussion: TIMO, Pension and Investor Views on Timberland
Investment structure tradeoffs; Impact of major transactions; Current under-valuation of REIT’s relative to private timberland market values; Where are current discount rates; Will US timberland supply be affected by private funds reaching end of term? How much capital is available for investment in timberland? Where is new capital coming from?
Moderator Sam Radcliffe, Prentiss & Carlisle
- Mark Wilde, Bank of Montreal
- Chris Zinkhan, The Forestland Group
- Jessamine Fitzpatrick, New Island Capital Management
2:00 – 2:50 PM Panel Discussion: Valuation & Appraisal Process – A 360° View – Perspectives of Appraisers, TIMOs, Institutions and Auditors
What components build the most confidence in appraisals: quality of property data, stumpage sale data, comparable sales analysis or the sophistication of timber projections and rates? How important are differences in appraisal methodology and TIMO appraisal policies? Exploration of auditors increasing role in valuation issues.
Moderator Phil Bailey, TerraSource Valuation
- Chris Singleton, American Forest Management
- Ashley Miller, TIAA Global Asset Management
- Tracy Evens, TimberLink
- Jodi Prevost, Frazier & Deeter
2:50 – 3:10 PM Afternoon Break
Session 4: Developments in Regulatory and Transactional Affairs
3:10 – 4:00 PM Panel Discussion: Political, Legislative and Tax Roundtable – Developments Affecting Timberland Investment and the Forest Products Industry
Major federal and state legislation that could impact timberland management and investment; How election results will influence legislation and policy; Tax changes that could influence timberland investment.
Moderator Jane Alonso, National Alliance of Forest Owners
- Korey Collins, RSM
- Toby Luther, Lone Rock Resources
4:00 – 4:40 PM Panel Discussion: Real Property Without the Real Estate: The Place of Timber Deeds in the Transactional Toolbox
Recent transactions highlight the timber deed’s versatility in allowing a timberland investor to obtain a real property interest in timber without owning the entire property. This panel will explore the financial and strategic considerations of property owners and timberland investors in evaluating timber deeds, the direction of the market for timber deeds, and common pitfalls encountered in these transactions.
Moderator David Reid, Sutherland Asbill & Brennan
- Elizabeth Bergquist, Weyerhaeuser
- Ken Hines, Hines Consulting and Duke University
4:40 – 5:00 PM Late Afternoon Break
Session 5: Who Will Manage the Forests?
5:00 – 6:00 PM Panel Discussion: Developing the Forest Investment Talent Pool
What are the challenges and major issues confronting the development of the industry’s talent over the next 5-10 years? What skill sets and experiences are sought by the industry? How does the industry foster diversity?
Moderator Jeffrey Siegrist, Jeffrey M. Siegrist & Company
- Rhonda Hunter, Weyerhaeuser
- Doug Long, Rayonier
- Scott Folk, Roseburg Forest Products
- Edgar Marshall, Molpus
6:00 – 8:00 PM Reception in Plaza
Thursday, September 22, 2016
Session 6: Forest Technology and Practices
8:30 – 9:20 AM Panel Presentations: Innovations in Forest Technology
Game-changing technology that will shape the future of forestry and timberland management.
Moderator John Pait, ArborGen
- Michael Clutter, Forest Investment Associates
- Marshall Thomas, F&W Forestry
- Doug Maguire, Oregon State University
9:20 – 9:50 AM Forest Management Practices of Private Timberland Investors and Managers in the US South
How are US Southern timberlands managed, what does it cost across owner types and sizes, and how have practices changed over time?
Brooks Mendell, Forisk
9:50 – 10:20 AM Morning Break
Session 7: Climate Change Opportunities
10:20 – 11:00 AM Panel Discussion: Carbon Markets for the Timberland Investor
Moderator Roger Williams, Bluesource
- Kaarsten Turner Dalby, The Forestland Group
- Jessica Orrego, American Carbon Registry
- Victor Haley, Sutherland Asbill & Brennan
- Stephen Levesque, Campbell Global
Session 8: Global Timberland Updates
11:00 AM – 12:00 PM Panel Discussion: Perspectives on South American Investments
South America remains a popular destination for institutional investments in forestry, with Brazil continuing to dominate. But other countries like Chile, Argentina and Uruguay are also increasingly attractive to foreign investors. Hear perspectives from various countries on this region’s strengths and challenges.
Moderator Marcelo Schmid, Forest2Market do Brasil
- Michael Cerchiaro, Forest Investment Associates
- Aldo De Cresci Neto, Gasparini, De Cresci e Nogueira de Lima Advogados
- Mauricio Simões, Suzano Papel e Celulose
12:00 – 1:00 PM Lunch in Plaza
1:00 – 1:30 PM Asian Forestry Investment Outlook
Greenfield strategies, the crucial role of partnerships in emerging markets, and overcoming challenges of scale and responsible business in Asia.
Geoffrey Seeto, New Forests
1:30 – 2:00 PM Investing in the African Forestry Sector
Africa is experiencing strong growth for industrial wood even as fiber supplies remain limited. The imbalance between supply and demand offers opportunities in this expanding market, but what is the investable universe for plantations, and are the returns worth the risks for timberland investors in Africa?
Ole Sand, Global Environment Fund
2:00 – 2:30 PM China’s Plantation Industry Investment Environment
Despite slowing economic growth, China’s ban on harvesting will keep it reliant on log and lumber imports. How does a growing plantation base factor into this equation?
Andrew Crisp, Jaakko Poyry Shanghai
2:30 – 3:00 PM Where in the World to Place Your Timberland Bets?
Dennis Neilson, DANA Limited
3:00 – 4:00 PM Closing Reception
Enjoy locally crafted beer and snacks in Miller Hall Foyer.
If you would like to be considered for a speaking slot, please contact the moderator of the session you are interested in. If no moderator is assigned to a session, please contact Sara Wu at firstname.lastname@example.org.
Want to be a sponsor? Find out details on our Sponsorships page.
Join us a day earlier for the Forest Products Forum and see what they’re talking about:
“Will attend again.”