Trustmark’s Blue Owl Filing Names No Branch Addresses. Hinds County Has Recorded No Deeds.

The document that would answer the question is not public. Trustmark’s Sept. 3 real estate purchase and sale agreement, filed as Exhibit 10.1 to its Sept. 10 8-K, says the 34 branch addresses, the buyer entity for each one, and the price and rent allocated to each one all sit on Exhibit E. Exhibit E is not in the filing. The 8-K’s exhibit index marks the agreement with an asterisk: schedules and similar attachments were omitted under Item 601(a)(5) of Regulation S-K, and the company undertakes to furnish supplemental copies on request by the SEC.

What the filed text does establish is the structure. The seller is Trustmark Bank, a Mississippi banking corporation. The buyers are “the entities set forth in the column titled ‘Buyer’ on Exhibit E,” each a Delaware limited liability company. The total purchase price is $91,700,000, “comprised of the individual purchase prices for each of the Premises which is more particularly set forth on Exhibit E.” Each branch gets its own 15-year lease at its own allocated rent, stepping up 1.5% a year.

The Wire checked the county record for the Jackson side of the deal. A search of the Hinds County chancery clerk’s general index for the party “TRUSTMARK BANK” from Sept. 2 through Oct. 17 returned three instruments, all deeds of trust in which Trustmark is the lender, not the seller. Searches for “BLUE OWL” and “OWL” in the same window returned nothing. No deed conveying a Trustmark branch building to a Blue Owl affiliate appears in the index for Hinds County, where Trustmark’s downtown headquarters and several branches sit.

That absence is the story for anyone who wants to know which branch on their street changed hands. The agreement required a special warranty deed for each premises, delivered through escrow with First American Title Insurance Company, and it says the buyer may take title through “such entities as Buyer shall designate.” So the recorded grantee may not carry the Blue Owl name at all, which means a reader searching land records for “Blue Owl” can come up empty even after the deeds are filed.

The deal-level numbers are public. JLL Capital Markets, which represented Trustmark, announced Sept. 17 that it arranged the $91.7 million sale and leaseback of 34 branches totaling 222,037 square feet across five states, under 15-year absolute triple-net leases with 1.50% annual increases. Blue Owl’s own release the same day says funds managed by its Real Assets platform completed the acquisition and cites Trustmark’s BBB+ rating from S&P as the credit behind the rent. Neither release lists a property.

Divide the two public figures and the portfolio prices at about $413 a square foot, a Wire calculation from JLL’s square footage and the $91.7 million total. That is an average across Mississippi, Florida, Tennessee, Alabama and Texas, and the agreement warns that the allocated prices “are not necessarily established for income tax, financial or accounting purposes.” JLL describes the portfolio as “anchored by Trustmark’s core Mississippi footprint” and says the branches sit in the Memphis, Houston, Montgomery and Huntsville markets alongside Florida’s Gulf Coast. It names no city in Mississippi.

The lease terms are where a branch’s fate gets decided. The form lease filed as Exhibit 10.2 is a triple-net agreement: the tenant carries taxes, insurance and operating expenses on top of base rent, and the landlord holds a lien on the tenant’s property for unpaid rent. It also gives the tenant three renewal options of five years each. Trustmark’s CEO, Duane Dewey, said in the Blue Owl release that the transaction came “with no disruption to our localized customer experience,” and the 8-K states the bank “will not close any branch or exit any markets” as part of it.

What’s next: Trustmark reports third-quarter results after the market closes on Tuesday, Oct. 27, and holds a call with analysts at 8:30 a.m. Central on Wednesday, Oct. 28, dial-in (877) 317-3051, according to the company’s Oct. 1 release. That filing is the first to carry a full quarter of the new rent against the higher-yielding securities, and it may carry a property table. The other record to watch is the chancery clerk’s index at co.hinds.ms.us, searching the grantor “TRUSTMARK BANK” rather than the buyer’s name. The deeds, when they land, will show the grantee entity and the consideration paid for each Jackson-area branch. The Wire asked nothing of the company that it has not answered in a filing; the omitted Exhibit E is the document that would settle the addresses, and the SEC is the body the company promised to furnish it to.