May 27, 2016
SunTrust Signs Major Lease Deal Trimming 45 Branches, Renewing 160 Locations
Agreement Covering Long-Term Renewals on 160 Branches and Purchase of Eight Others Removes Uncertainty for American Finance Trust By Mark Heschmeyer | May 25, 2016 | CoStar A major multi-property lease …

Read more

Agreement Covering Long-Term Renewals on 160 Branches and Purchase of Eight Others Removes Uncertainty for American Finance Trust

A major multi-property lease renewal deal between SunTrust Banks Inc. and American Finance Trust, a non-traded net lease REIT, offers insight on how the ongoing bank branch consolidation may affect owners of bank branch retail property in coming years.

Under the deal, 20% of American Finance Trust’s 213 individual SunTrust bank branches will lose a tenant. At the same time, the lease renewal agreement removes a lot of uncertainty for American Finance Trust by securing the bank’s commitment for most of the remaining properties.

For American Finance Trust, it has been a big concern. SunTrust branch properties account for about 9% of its property holdings and almost 18% of its annual revenue. The leases for all but four of the 213 properties were set to expire in December 2017.

Article Located Here

Recent

Go Store It Opens New Storage Facility in Redlands, CA

Go Store It Opens New Storage Facility in Redlands, CA

Go Store It Self Storage has opened its latest state-of-the-art storage facility in Redlands, Ca. Go Store It Redlands is strategically designed to meet the needs of the Redlands community and the rapidly growing Inland Empire. The 114,750 square foot, 838-unit facility sits on approximately six and a half acres, and has over 400 feet…

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now