Harvard Asset Management sells forestry assets in Uruguay.

Wednesday April 10 is the launch of a new trust called Bosques del Uruguay IV.

55.000 hectares are sold to this trust worth 330 M USD. Local pension funds have set up this trust and previously other trusts like Bosques del Uruguay I for 50 M, II for 70 M and III for 190 M.

These 55.000 hectares plus 4.600 hectares of leased land are planted with Pine trees and Eucaliptus Grandis. Harvard bought these properties in 2006 and in October 2017 decided to sell these assets.

The estimated return on investment of this trust is 7.67% annually with fixed USD and land price was set at 2.650 USD per hectare.