High interest rates turbocharged sale-leaseback deals of STNL assets in 2023, with bank branches completing their highest volume of sale leasebacks in seven years.
With two transactions encompassing nearly $20M coming in at the end of the year, the total volume for sale-leasebacks of bank branches was $119M, according to CoStar data.
Bank of the Sierra, a wholly owned subsidiary of Sierra Bancorp, entered into two agreements at the end of last month for the sale and leaseback of 13 branches across central California.
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