The Lyme Timber Company LP began investing in timberland and rural real estate in 1976. During its first 25 years, Lyme made a series of $1 million to $10 million investments in forestland properties throughout the eastern US.
Proceeds from Lyme’s early timberland investments and from offerings of limited partnership units in 1993 were used to capitalize Lyme Properties, a subsidiary company focused on the development of commercial real estate. Between 1993 and 2006, Lyme Properties became the largest life sciences property developer in New England. The Lyme Properties business was sold in a series of transactions culminating in 2007.
In 2002, Lyme organized The Lyme Northern Forest Fund with $64.5 million in capital commitments. At the close of its investment phase in 2005, this fund had invested in five properties totaling 260,000 acres.
In 2006, Lyme organized The Lyme Forest Fund with $190.6 million of committed capital. At the close of its investment period in March 2009, this fund had invested in seven properties totaling 433,000 acres.
In 2010, Lyme organized The Lyme Forest Fund III with $160.4 million in capital commitments. At the close of its investment period in August 2014, this fund had invested in twelve properties totaling 230,000 acres.
In 2014, Lyme organized The Lyme Forest Fund IV with $250 million in capital commitments. As of Q3 2017, this fund has made six investments totaling approximately 170,000 acres.
In 2015, Lyme was retained as the investment manager for a 234,000-acre property in the Adirondacks formerly owned by The Lyme Forest Fund.