The McEnery Company was engaged by a regional lender to provide an AS IS opinion of the real property market value of the Hunt Forest Products Timberland Portfolio. This is a 93 parcel, 22,324 acre portfolio of vacant timberland tracts located in (15) parishes across the State of Louisiana. The tracts range in size, from as small as 14 acres to as large as 3,053 acres, with an average size of 240 acres. The scope of our work included the inspection of all 93 parcels, and valuation of the portfolio in bulk. Our data collection included the development of fully developed, verified and confirmed timberland portfolio trades. Our comparable data presentation included due segregation of associated merchantable timber value, which in each comparable’s cases was confirmed with actual timber inventories and interviews with representatives of timber REIT’s, local foresters and timber management groups. The net price per acre data collected represented an unadjusted range with a coefficient of variation of less than 1%.