Inland Sells SunTrust Branches
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If you wanna make money in real estate, sometimes you just need to buy it. Late breaking news this morning coming out of JLL, which reports that Inland American REIT has sold 139 SunTrust bank branches throughout the Southeast, including 23 locations mainly in metro Atlanta. JLL's Guy Ponticiello, Bruce Westwood-Booth, Rob Bickel, and Brian Shanfeld brokered the transaction. An unnamed investor purchased the portfolio for $240M (which encompasses 715k SF and lots of pens chained to desks).