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Net-lease properties continue to be a safe bet in 2013
CHICAGO, Feb. 18, 2013 — Jones Lang LaSalle’s Capital Markets Group today announced the firm is marketing for sale the SunTrust Net Lease Portfolio on behalf of Inland American REIT. The portfolio includes 143 retail bank branches, encompassing 715,000 square feet, located throughout the Mid-Atlantic and Southeastern United States. The properties are subject to a long-term master lease and are divided into eight geographically diverse sub-portfolios of bank branches that feature strong market shares, solid deposit bases, and excellent real estate fundamentals. Investors have the option to bid on the entire portfolio or on individual sub-portfolios.
Managing Directors Guy Ponticiello, Bruce Westwood-Booth, and Rob Bickel and Vice President Brian Shanfeld are leading the Jones Lang LaSalle team on this transaction.
“Valued in excess of $275 million, the SunTrust Net Lease Portfolio provides the remarkable opportunity for a potential investor to acquire a substantial real estate portfolio absolute net leased to one of the nation’s leading financial institutions. We expect this portfolio to generate a significant amount of domestic and international investor interest,” said Ponticiello. “The portfolio provides secure, long-term cash flow. The master lease includes a favorable option structure that effectively creates a 15-year lease term.”
“The SunTrust assets performed well in our portfolio,” added Jeff Manno, vice president of transactions of Inland American. “The disposition of these net lease retail assets corresponds to Inland American’s long-term portfolio strategy to move into additional multi-tenant, necessity-based retail properties.”
SunTrust, which was founded over a century ago, is one the nation’s leading banks and has grown dramatically over the past two decades following a series of acquisitions. SunTrust is the 10th largest bank in the United States with more than $130 billion in deposits and holds a strong market share in the states in which the portfolio is located.
Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2011 alone, Jones Lang LaSalle Capital Markets completed $60 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $52 billion in global investment sales and buy-side transactions, equating to nearly $216 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its total Capital Markets volumes by 122 percent in 2011 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises more than 1,200 specialists, operating all over the globe.For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page. Bookmark it here: http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspxAbout Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.
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