Copper State Credit Union in Phoenix entered into a sale-leaseback transaction for four of its branches.
MountainSeed Real Estate said in a press release that it paid $17 million for the locations.
Copper State entered into a 15-year lease agreement for the properties, with renewal options.
“This strategic transaction unlocks capital that will fuel our investment in cutting-edge
digital solutions and enhanced member services while maintaining our strong community
presence,” Robb Scott, the credit union’s president and CEO, said in the release. “We’re transforming
our real estate assets into opportunities that will better serve our members today and
position us for continued growth.”