Pope Resources, A Delaware Limited Partnership manages timber resources in the United States. The company operates in four segments: Partnership Timber, Funds Timber, Timberland Investment Management, and Real Estate. It is involved in growing, managing, harvesting, and marketing timber from the Partnership’s 120,000 acres of direct timberland ownership in Washington; and private equity timber funds’ 134,000 acres of timberland in Washington, Oregon, and California that co-owned with third-party investors. The company also engages in commercial thinning operations; leasing ground for cellular communication towers; gravel mines and quarry operations; and land use permits. In addition, it provides management, acquisition, disposition, and consulting services to third-party owners of timberland; provides management services to the funds; and acquires and manages timberland portfolios on behalf of the funds. Further, the company secures entitlements and/or infrastructure for the development; sells the entitled property to a party who would construct improvements; and leases residential and commercial properties in Port Gamble, Washington. Additionally, it operates a portfolio of approximately 2,000 acres in the west Puget Sound region of Washington. The company is headquartered in Poulsbo, Washington.