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Farm, Forestry, Wood Products Industry Experience

P. Barton DeLacy is one of the few urban appraisers who has had the good fortune to work in virtually every silviculture in North America; from the Douglas-fir of the western Cascades to the Rockies in Montana and Colorado, to the birch and poplar forests of Maine, to the pine plantations of Alabama.  In addition, he has had more limited experience with ranchlands and tilled farmland throughout the West Coast, Rocky Mountains and the Great Plains of the Midwest.

As an urban appraiser, DeLacy first became involved with farms and forestry when testing for the highest and best use of large tracts proposed for resort or residential development on the Oregon Coast in the 1980s. Today, transition of rural lands to recreational or urban uses requires an understanding of agricultural economics including cropland, timber or pasture.

Some of the more significant agricultural engagements include the following:

  • Client: Delimax, a vertical veal meat processor based in Quebec; venue: veal farms in Wisconsin and Indiana; at issue: valuation for acquisition, then disposition of livestock-raising properties (2010, 2014).
  • Client: First Midwest Bank; venue: tilled farmland central Illinois; at issue: appraisal reviews on multiple engagements for asset lending purposes (2013).
  • Client: IRS; venue John Day, Oregon; at issue: appraisal of 8,000 acre dry land ranch in estate tax case (2007)
  • Client: Harrison Resources; venue: Weld County, CO; at issue: marketability of 644 acre tract of dry land pasture as potential data center site (2013)
  • Client: Willamette Farms; venue: the Yamhill County wine country of northwest Oregon; at issue the estate value of orchard and vineyard land
  • Client: Miller Nash: venue Douglas County, Nevada and Alpine Co., CA; at issue: bankruptcy of Dangberg Ranch, a 25,000 acre farm and forest holding (1987)
  • Client: Indiana Lumbermens Mutual Insurance Co (represented by Paine Hamblen of Spokane); venue: Idaho Federal District Court; at issue: appraisal review and valuation counsel regarding damages and replacement cost after fire razed a sawmill in the Idaho panhandle in 2008. (2013)
  • Client: Kolschowsky Trust (Chicago); valuation, highest and best use analysis of 1,800 acres of managed timberland in Clark County, Wisconsin (2010, 2012).
  • Client: Timberland Investment Resources, LLC (Georgia); evaluation of 13,900 acre lease of managed Cumberland Ridge (Tennessee) timberland for wind farm development (2011).
  • Client: Willamette Management (Portland); valuation of Noble Tree Farm operations, 3,521 acres in multiple Oregon counties; modeled their financial operations, established land values and highest and best use; assumed a wind down of operations. Noble Farms was one of the largest Christmas tree operations in the PNW (2009).
  • Client: PALCO (Pacific Lumber Co.), Scotia CA; Valuation of entire property portfolio including mills and mill sites in Scotia, Fortuna and Carlotta, all in Humboldt County, CA for bankruptcy proceedings (2006-2008).  Also appraised town site, commercial core and over 270 company-owned single-family residences.
  • Client: Wells Fargo (California); Valuation of Harwood Products land and mill in Branscomb, Mendocino Co., CA for bankruptcy proceeding (2008).
  • Client: Brookfield Asset Management; Longview Timber Corp. Tree Farm Portfolio: Select valuation of highest and best use sites within 586,000 acre portfolio of managed timberland in Oregon and Washington (2007).
  • Client: Bank of the West (Omaha); valuation of 3 sawmills owned by Neiman Enterprises in South Dakota and Wyoming (2007).
  • Client: Great American Group (California); valuation of paper mill portfolio in purchase price allocation when Neenah Paper bought Fox River Paper. Mill sites in California, Wisconsin, Ohio and Massachusetts. (2007)
  • Client: Washington State Dept. of Natural Resources; 38 parcel portfolio of surplus lands totaling 1,000 acres in 16 counties (2006).
  • Client: Yellowstone Club; property tax appeal in Madison Co., Montana on timbered recreation areas surrounding homesites within 8,000 acre holding (2005-6).
  • Client: US Bank; valuation of Three Rivers saw mill and 1,000 acre timber holdings in and around Kamiah, Idaho. (2003)
  • Client: Plum Creek Timber Co (REIT) (Seattle); appraised over 3 million acres of managed timberland in Oregon, Washington, Montana, Maine and pine plantations in the Southeastern U.S. for a purchase price allocation with Georgia Pacific; emphasis on identification of highest and best use recreational tracts (2001-2).
  • Client: Consolidated Paper (Stevens Point, WI); purchase price allocation involving merger with Mead paper, appraised 670,000 acres of managed timberland in Wisconsin, Minnesota and Ontario, Canada (2000).
  • Client: Weyerhaeuser (Tacoma, WA); valuation of 700,00 acre managed timber portfolio on Vancouver Island (British Columbia) and Alabama in purchase price allocation following acquisition of McMillan-Bloedel (1999).

In addition, DeLacy served as a Mt. Angel Abbey Foundation Board Member from 2004-2011 and is now emeritus. The Foundation manages a 2,400-acre tree farm (Douglas-Fir stocking) for the monastery. DeLacy’s role on the Board included supervising the engagement of a professional forester for management and ongoing counsel to the Board on harvest scheduling.