Regions Financial Wachovia branch BofA buy $1-billion joint-venture
GlobeSt.com: Just for the record, explain the strategy and what you feel makes it unique.
Schorsch: Our strategy from the beginning has been focused on a customer-centric model built around the banking and financial industry. Those are our primary tenants, as well as insurance carriers and investment banks. Acquiring assets within the financial industry allows us to address a unique set of needs. For example, they own the same type of real estate in every city across America. They own the same type of bank branches, office facilities, operation centers, credit-card and check-processing facilities, all of which are uniquely designed and positioned in the market. They are usually on Main Street in primary areas.
GlobeSt.com: Essentially, your model focuses on sale/leasebacks, correct?
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
