Philip Power, chairman-elect of the Michigan Chapter of the Nature Conservancy, said he expects a deal announcement Monday by the Kamehameha Schools Trust, the current property owner.

Conservancy officials have learned The Forestland Group LLC is the successful bidder, Power said.

The Forestland Group outbid other suitors, including a Nature Conservancy- and state of Michigan-led consortium, for rights to the property that stretches across much of the Upper Peninsula and encompasses some of the region's most pristine land.

Estimates placed the land's value at about $150 million, but the sale price has yet to be disclosed.

"We're naturally disappointed our group didn't win, but we're pleased a conservation-minded group did win," Power said.

Kamehameha spokeswoman Susan Todani would not confirm the sale today.

"We are in the process of doing something right now, but it's slightly, slightly premature," Todani said.

A news release announcing the deal initially was set for early today, but was pushed back to next week, said Herbert Hoell, The Forestland Group's chairman.

"I cannot comment on anything about the situation, except there will be a press release," Hoell said.

Gov. John Engler and Nature Conservancy officials announced in September plans to bid on the Kamehameha property, and made a public plea for timber firms to round out its partnership.

The state dangled tax incentives and $10 million secured from the Natural Resources Trust fund as seed money to entice a private timber partner.

The Nature Conservancy also huddled with numerous foundations and private donors to sweeten the pot, and the group eventually enticed multiple timber firms to join its bid team, Conservancy officials said.

Conservancy officials said they hope to meet next week with The Forestland Group to pitch their proposal. The Conservancy-state group's goal was to purchase permanent conservation and recreation easements that would guarantee public access, while keeping the bulk of the property on the tax rolls and maintaining timber jobs for Upper Peninsula residents.

The Forestland Group could fit with the Nature Conservancy's goals, Power said.

"Our sense is they've got a first-class track record of putting in place solutions like the ones we're working on," he said. "We in the Nature Conservancy are looking forward to working out a partnership with them."

The Forestland Group is no stranger to Michigan. The company purchased 78,000 acres near Houghton in 1998 and another 91,117 acres spread across Houghton, Iron, Baraga and Ontonagon counties in 2001.

"We do practice renewable forestry," Hoell said. "We're very proud of our stewardship record."

In February 2002, The Forestland Group's Shawn Hagan, director of forest operations for the Great Lakes region, discussed his firm during a meeting of the Keweenaw Industrial Council.

The company's "goal is to manage their land so as to conserve and maintain it for current and future value," Hagan said. "They are not developers, but rather focus on forest products. They sell standing timber to area loggers who harvest and market the wood."

In addition to the Kamehameha property, The Forestland Group owns more than a half-million timbered acres in eight states, including Michigan.