A Fox Rothschild financial services team led by Christopher J. Pippett and Madison S. Ott served as legal counsel to CU Capital Management in a landmark $89.5 million sale-leaseback transaction with Truliant Federal Credit Union. The sale included Truliant’s headquarters in Winston-Salem, NC, its operations center and four branches.

All the properties were purchased by CCM Properties Five LLC, which is managed by CU Capital Management. CU manages a network of credit union service organizations that deal with sale leasebacks for credit unions participating as seller-lessees, investors or lenders.

Under the terms of the agreement, Truliant Federal Credit Union sold six of its properties to CCM Properties Five, which were then leased back to Truliant, allowing the credit union to retain its operational footprint while unlocking capital for future growth.

The $89.5 million transaction included the following properties:

• Truliant Headquarters: 3200 Truliant Way, Winston-Salem ($34.66 million)
• Operations Center: 3320 Silas Creek Parkway, Winston-Salem ($44 million)
• Burlington Branch: 2564 Kirkwood Drive, Burlington ($2.68 million)
• High Point Branch: 4006 Mendenhall Oaks Parkway, High Point ($2.35 million)
• Clemmons Branch: 4100 Clemmons Road, Clemmons ($2.6 million)
• University Branch: 1915 Back Creek Drive, Charlotte ($3.26 million)

Pippett and Ott, along with Lauren E. Stahl were primary transaction counsel on the deal and Catherine B. Mitchell handled the real estate and title issues in North Carolina.

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