The Boone Forestlands Property is a surface and timber rights asset consisting of 46,724 acres in the southeastern Kentucky counties Bee, Breathitt, Clay, Estill, Harlan, Jackson, Knox, Lee, Leslie, Letcher, Magoffin, Owsley, Perry, Rockcastle, and Whitley. The property is split into 55 different tracts spread across the South-Central Region of Appalachia. A temperate forest of upland hardwoods comprises the timber resource, with yellow poplar, white oaks, and hickory dominating. Approximately 30,000 acres of Boone Forestlands is enrolled in the Kentucky Wildlife Management Area program and these acres carry the rights to 6 transferrable elk tags.
|Property Name||Boone Forestlands|
|County||Bell, Breathitt, Clay, Estill, Harlan, Jackson, Knox, Lee, Leslie, Letcher, Magoffin, Owsley, Perry, Rockcastle, Whitley|
|Coordinates||N 36°59’16” W 83°27’43”|
|Previous Owner||Begley Properties, LLC|
|Dominant Forest Type||Southern Appalachian Hardwoods|
|Managing Consultant||Advantage Timberland, Inc.|
|Address||P.O. Box 548 1325 Hockman Pike Bluefield, VA – 24605|
The Boone Forestlands Property is within the Central Appalachian Region of the United States. The northern boundary of this area includes those counties in Kentucky south of Interstate 64. The western boundary would be Interstate 75 and the southern boundary would be the Kentucky /Tennessee border. The eastern boundary would include the counties of Knott and Magoffin along Route 23. The major population centers in this area are located on the west side of the area and include the cities of London and Corbin. Both of these cities are located along Interstate 75. The major east/west transportation route in the area is the Hal Rodgers Parkway, which runs between Hazard and London.
There are 15 different counties in this neighborhood. These counties are sparsely populated, most having a population less than 30,000 people. The county seats typically have a population less than 5,000 people.
The main block of Boone Forestland adjoins a 16,776-acre property, known as the Elk Forest Tract, recently acquired by The Forestland Group, LLC. Boone Forestland is also strategically located less than 10-miles north of a large block of perpetual timber rights (Appalachian Timber Holdings) on the north face of Black Mountain in Harlan County. The Forestland Group, LLC acquired the Appalachian Timber Holdings rights in 2007.
The Boone Forestlands Property contains a portfolio of properties acquired by Begley Properties LLC over the past several years. There are fifty-five separate tracts scattered across fifteen different counties in southeast Kentucky. Begley Properties, LLC held tracts in a variety of forms including “fee” ownership, surface only ownership, and various combinations of rights. In early 2011, TFG purchased the “surface rights” to what was called Boone Forestlands. At the same time, Penn Virginia Resource Partners consummated a deal for mineral rights on the same property.
The topography is typical for the southern Appalachian region and is very mountainous with steep hillsides and deep valleys. The most prominent topographical feature in the region is Pine Mountain which lies to the south. The property lies in the Cumberland River and Kentucky River watersheds.
The dominant species are yellow poplar (18%), chestnut oak (16%), white oak (10%), and hickory (10%). Timber volume is composed largely of yellow poplar, white oak, red oak, and hickory. Hard and soft maple, basswood, and pine make up lesser, yet still significant, portions of the volume composition as well.
Many of the ridge-tops on the main block of properties on the Boone Forestland Tract have been strip-mined over the past 30 years. Approximately 5,700 acres of the property are in permanent non-forest cover including roads, utility easements, gas well sites, surface mining sites, and reclaimed surface mines.
Approximately 30,000 acres of the Boone Forestland Property is under agreement with the Kentucky Department of Fish & Wildlife Resources – Elk Management Program. There is a viable elk herd established on the property.