More than 290,000 acres of northern Maine forestlands in Aroostook, Penobscot and Piscataquis counties have been sold to Tall Timber Trust, according to forestry consultant Gary Bahlkow.In the private transaction, the price of which has not been disclosed, Canopy Timberlands, LLC, sold two major blocks of forestland to Tall Timber Trust, said Bahlkow, who is overseeing the transition of lands and the forestry and contracting teams for Tall Timber. The deal closed Sept. 30, he said.“They both have been working forest for a long time and continue to be,” Bahlkow said of the two blocks of the land, both comprised of mixed hardwood and softwood forests.Bahlkow declined to share more information on Tall Timber Trust’s ownership or the extent of its land holdings in Maine, saying the company wants to maintain a “low profile” during a “routine timberland investment transaction.” A quit claim deed filed with the Penobscot County Register of Deeds lists D. Ben Benoit as a trustee of Tall Timber Trust, created in Connecticut in 2007.
Urban forestry experts have long suggested that tree canopy cover in residential and urban areas is essential to maintaining a healthy ecosystem in those communities, but a new study suggests that tree cover may also contribute to increased property values.
The researchers found that the contribution of tree cover to real estate value maximizes at about 30 percent cover at the property level and about 38 percent at the county level. Perceived benefits, such as scenery, privacy, shade, and recreation, all contribute to this rise in property value.