SouthState completes $457 million sale-leaseback of 165 bank branch properties
SouthState Bank, N.A. closed on February 28, 2025 the sale of 165 branch properties to entities affiliated with Blue Owl Real Estate Capital for an aggregate cash net purchase price of approximately $457 million, and leases them back under 15-year triple net leases. The transaction produced a pre-tax gain of approximately $229 million, but the company then sold available-for-sale securities at a pre-tax net loss approximating that gain, and it expects the net transaction to be immediately accretive to net income and earnings per share.
Key points
- Sale of 165 branch properties in Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia closed February 28, 2025 for about $457 million in cash net
- Lease terms: initial 15 years, three five-year renewal options, 2% annual rent escalation; the bank will not close any branch or exit any market
- Pre-tax gain of approximately $229 million after transaction expenses, roughly offset by a securities sale at a pre-tax net loss
- Proceeds reinvested in market rate securities with duration of about 3 years; updated net interest income guidance expected with first quarter 2025 earnings call
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 06, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.