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Inland Sells SunTrust Branches

WASHINGTON DC 10.19.2017

THE FAIRFAX COUNTY STATE OF THE MARKET

Development Pipeline and Current Projects

Katherine Bonnafé -- Combined Properties
Greg Trimmer -- JBG SMITH
Alex Nyhan -- First Washington Realty
Inland Sells SunTrust Branches

SunTrust, GA 2

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).
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