Attorneys at global law firm Greenberg Traurig, LLP represented SouthState Bank, N.A. in connection with a sale and leaseback of 165 of its retail bank properties across the Southeast.

SouthState sold the bank branches to affiliates of Blue Owl Real Estate Capital for $467 million in cash and agreed to rent them back under triple net leases with initial terms of 15 years.

The portfolio includes more than 1.18 million square feet of space spanning Alabama, Georgia, Florida, North Carolina, South Carolina, and Virginia. SouthState does not plan to close any branches or exit any markets as part of the sale-leaseback, according to a Securities and Exchange Commission filing by the company.

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