Truliant has successfully closed a real estate sale-leaseback transaction involving six of its properties in the Triad and Charlotte markets.
The move allows Truliant to strategically boost its capital position and free up equity in real estate to redeploy into high-priority initiatives, without needing to explore alternative funding sources.
“This agreement allows Truliant to strategically add to our strong net worth while elevating our capacity to serve our members,” said Truliant President and CEO Todd Hall. “As a fast-growing credit union, it provides us with additional liquidity to use for anticipated transformative and impactful projects.”
Truliant partnered with CU Capital Management, a credit union service organization, or CUSO, for the transaction. The credit union secured favorable long-term lease rates on the properties in the agreement, which included:
· Headquarters: 3200 Truliant Way, Winston-Salem, N.C.
· Operations Center: 3320 Silas Creek Parkway, Winston-Salem, N.C.
· Burlington Branch: 2564 Kirkwood Drive, Burlington, N.C.
· High Point Branch: 4006 Mendenhall Oaks Parkway, High Point, N.C.
· Clemmons Branch: 4100 Clemmons Road, Clemmons, N.C.
· University Branch: 1915 Back Creek Drive, Charlotte, N.C.
Truliant has no plans to relocate or close any branches or facilities and will maintain full operational control of the properties. Members will continue to experience the same high standards of service at each.