Asian investors keen on fractional ownership of US forests
Asian investors have been snapping up fractional ownership shares in Sherwood Forest, Virginia, through a scheme offered by Canadian investment firm Walton International Group.
Hundreds of deeds have been recorded in Stafford Circuit Court showing Asian investments in Walton's 355-acre Sherwood Forest Farm. Walton bought the property in October 2010 for US$3.55 million and began marketing the property to investors in Singapore and Hong Kong.
It is selling undivided interests in the land in a tenants-in-common arrangement. Investors don't buy individual lots but rather a fractional share of the overall property. Walton has said it plans to keep at least a 5 percent stake itself.
By January 5 2011, 147 deeds had been filed showing Asian investments in the North Sherwood property, with hundreds more expected, according to court staff.
Walton is selling 1,933 shares in the North Sherwood land for $10,000 a share.