Atlanta, GA and Two Rivers, WI – February 21, 2025. MountainSeed Real Estate Services, LLC (“MountainSeed”), a Georgia limited liability company, has successfully completed a sale-leaseback transaction with Shoreline Credit Union (“the Credit Union”).
Effective February 21st, 2025, under the terms of this transaction, Shoreline Credit Union sold 1 property, which it owned and operated as an office location, for an aggregate purchase price of approximately $4.83 million, inclusive of customary closing adjustments. The property is located in the immediate vicinity of their headquartered location in Two Rivers, Wisconsin.
Concurrently, Shoreline Credit Union entered into a master lease agreement (the “Lease Agreement”), under which the Credit Union will lease back the property. The Lease Agreement has an initial term of 15 years, with an option for the Credit Union to extend the lease for an additional 15-year term. As part of this sale-leaseback transaction, the Credit Union will continue its operations without closing any offices or exiting any markets, ensuring seamless service to its members, making a long-term commitment to the geographic area, and maintaining its strong presence in the local community.
MountainSeed’s continued commitment to conducting sale leaseback transactions further establishes the company as a reliable resource for both Credit Unions and Banks. It provides Shoreline with enhanced financial flexibility in the current economic environment.
“This transaction allowed us to complete a primary strategic objective. We were able to boost our Net Worth by over 33%. With the increased capital, we can now increase our mortgage holdings by 40%, which bolsters the affordability of housing in our Hometown communities. We are able to accomplish this while retaining the location of our most popular and most recognizable branch. A triple win for the credit union, our members, and our community,” noted Nathan Grossenbach, Chief Executive Officer of Shoreline Credit Union
About MountainSeed: MountainSeed acts as a beacon of trust and innovation in the real estate and banking industries, serving as a partner to over 600 community Banks and Credit Unions across 50 states. MountainSeed has become the most active company in conducting sale leaseback transactions with community Banks and Credit Unions. In addition, the company processes over $5 Billion commercial real estate transactions monthly, offering expertise to clients in the commercial real estate and lending industries. Their tech-enabled business provides clients access to a marketplace of products, services, and real estate data.
About Shoreline Credit Union: Shoreline Hometown Credit Union, established in 1941 by employees of the Hamilton Manufacturing Company in Two Rivers, has grown from a small, volunteer-run operation into a trusted, member-owned financial cooperative. Headquartered in Manitowoc County, Shoreline now serves approximately 10,000 members across nine Wisconsin counties, including Manitowoc, Sheboygan, and Brown, through its locations in Manitowoc, Two Rivers, and Green Bay. As a non-profit institution insured by the NCUA, Shoreline emphasizes safety, reasonable rates, and a member-focused mission of achieving financial success. With a history of community involvement through charitable initiatives, volunteer efforts, and sponsorships, Shoreline continues its 80-year tradition of supporting both its members and the broader community.
For further information or inquiries, please contact:
- MountainSeed Sales
– Email: [email protected]
- Nathan Grossenbach, Chief Executive Officer, Shoreline Credit Union
– Email: [email protected]
Forward-Looking Statements
This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include changes in economic conditions, changes in market interest rates, among other factors.