Land Report 100er Tianqiao Chen has yet to find a buyer for his High Cascade Timberland Portfolio. The Chinese co-founder of Shanda Interactive Entertainment brought the 197,596 acres to market in January for $227.75 million ($1,152 per acre).

Currently ranked No. 85 on the Land Report 100, Chen paid $85 ­million ($430 per acre) in 2015 for the former Crown Pacific acreage. At the time, Fidelity National Financial Ventures owned the timberlands.

Robb Van Pelt of Mason & Morse Ranch Company and Jake Polvi of Polvi Real Estate share the High Cascade Timberland Portfolio listing.

Timber Assets

Totaling 197,596 acres, the six Central Oregon tracts consist ­primarily of lodgepole and ponderosa pine. Tracts range in size from 484 acres to more than 91,000 acres.

According to a 2024 timber inventory, Chen’s timberlands have a total net volume of 412 million board feet (MMBF) of merchantable saw timber. Neiman Enterprises’ Gilchrist Mill, which is ­adjacent to the portfolio’s Gilchrist tract, sits at the center of the portfolio.

Situated in close proximity to Bend — Central Oregon’s largest city — 32,995-acre Bull Springs Skyline Forest is the priciest overall ($95 million) and per acre ($2,879). Originally listed for $127 million, Bull Springs has significant recreational and developmental potential in addition to its timber resources.

During its ownership tenure, Shanda Asset Management has pursued a sustainable yield model, limiting annual timber harvests to less than the­ forest’s natural growth rate. It has also implemented an aggressive fuels-reduction program to prevent wildfire losses.

Alternative Revenue Streams

In 2022, Shanda Asset Management partnered with a carbon developer to establish a voluntary carbon credit project. Emission ­reduction benefits (ERBs) are currently being quantified. The company has also leased 4,800 acres for development of a utility-scale solar facility.

Any or all of the tracts are candidates for a conservation easement.

Debunking Inaccurate Allegations

Contrary to reports that allege a clandestine purchase in 2015, Shanda voluntarily applied for review of the potential acquisition by the Committee on ­Foreign Investment in the United States (CFIUS) and subsequently received approval prior to the purchase.

(CFIUS is an interagency committee at the US Department of the Treasury that reviews transactions involving foreign investment in the United States and real estate transactions involving foreign persons in order to determine the effect of such transactions on the national security of the United States. If red flags are raised concerning foreign ownership, CFIUS is the go-to agency that reviews the acquisition.)

“After a thorough examination, CFIUS concluded its review with no findings of national security concerns,” Shanda reported on its website.