Resource is a private, natural resource real estate investment firm partnering alongside skilled management teams seeking to unlock value from out of favor, underutilized or otherwise dislocated real estate assets.
Founded in 1998, Resource Land Holdings (“Resource” or the “Firm”) has focused exclusively on the natural resource real estate sector for more than two decades. To date, the Firm has completed 80+ transactions across 28 states/provinces spanning agriculture, timberland, water, ecological, vacant real estate, and mining (now a discontinued strategy). The Firm has organized and managed seven investment vehicles with aggregate equity commitments in excess of $840 million. In 2015 the Firm initiated its current fund, Resource Land Fund V, LP, with $275 million of investor commitments and a continued focus on partnering alongside skilled management teams seeking to unlock value from dislocated natural resource real estate assets.
Resource’s mission is to opportunistically acquire, diligently manage, and thoughtfully balance the risks of natural resource real estate investing alongside aligned local operators on behalf of its investors, partners, and employees.
Resource believes that exceptional risk-adjusted opportunities exist in the natural resource real estate sector for those willing to identify unwanted, underutilized, ignored, or misunderstood assets and assemble skilled management teams to unlock latent value. Through more than two decades of curating a select network of transaction professionals, growers, foresters, miners, processors, and commodity marketers, Resource has developed access to a broad array of opportunities and is consistently looking for chances to pair them with skilled specialists in the natural resource domain.
At times, the Firm is simply a transitional owner, stewarding a property towards permanent ownership under a multi-generational, strategic owner like a family, conservation group, or corporate concern. At other times, Resource and its management teams play the role of restorers: identifying what is broken, underutilized, or inefficient and fashioning a solution that addresses the economic and environmental sustainability of the project. And finally, there are instances where Resource simply focuses on unlocking value from those portions of the projects that are ignored or underutilized for the benefits of the Firm’s management teams, employees, and investors.
Resource’s Investments in food have spanned row crop agriculture, vine and tree plantings, conventional and organic sites, and both leased and directly operated investments. The Firm is often investing in properties that lack the appropriate infrastructure to maximize their productive and financial capacity and, in partnership with local management teams, is restoring the productive capacity of the property. Commodity offtake agreements are important to Resource and are pursued with regional and national packers, processors, and marketers to provide greater stability and financial visibility to the operation.
Throughout its portfolio of natural resource real estate, Resource has repeatedly found opportunities to capture and monetize dormant conservation and ecological values. By identifying, preferably early in the property’s ownership, the potential for conservation, the Firm has been able to work alongside several national and local conservation-oriented organizations to sell portions of diverse property types into permanent conservation holdings. To unlock ecological assets, which often require additional investment, permitting, construction, and long-term monitoring, Resource has partnered with several leaders in this field to permit, construct and sell ecological assets throughout its portfolio.
Resource’s approach to timberland combines an opportunistic view toward acquisitions with aggressive management of both timber harvests and asset resales. Since Fund I, the Firm has acquired assets across the Pacific Northwest, Southeast, Mid-Atlantic, and Eastern Canada, spanning hardwoods and softwoods. Early into most hold periods, Resource begins selling non-core real estate holdings even while managing widespread timber sales across the recently acquired landscape.
Opportunistic Real Estate
Historically, Resource has acquired large, rural landscapes that are adjacent to or sometimes overlap with its core investment targets of agriculture, timberland, and ecological and water assets. These opportunistic assets include large ranch and pasture properties, sites that are suited for power generation such as wind and solar, properties with imbedded conservation values, projects in need of environmental remediation, midstream-agriculture, resort, residential, commercial uses, and industrial uses.
With a corporate history rooted in agriculture, Resource has always held a deep appreciation for the value of water since the Firm’s earliest days. Initially, water rights, transmission capacity, and in certain instances, water storage capabilities were primarily intrinsic components of sustainable agricultural production. Over time, however, Resource realized that incisive, responsible management, coupled with an eye toward conservation, could allow the Firm’s management teams to identify and potentially increase the independent value of excess water or water assets otherwise not fully utilized on traditional farming operations.