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SunTrust Portfolio in Contract

Oak Brook, IL-based Inland American Real Estate Trust is buying 216 properties in a sale-leaseback with SunTrust Banks Inc. The 1.15 million-sf portfolio consists of eight office buildings and 208 single-tenant retail banking facilities.

By Michelle Napoli | Updated on October 16, 2007

Michelle Napoli is editor of Net Lease forum, from which this article is excerpted.

Oak Brook, IL—Inland American Real Estate Trust Inc., based here, is buying 216 properties in a sale-leaseback with SunTrust Banks Inc. According to a Securities and Exchange Commission filing by the REIT, the 1.15 million sf portfolio consists of eight office buildings and 208 single-tenant retail banking facilities. Located in eight states and the District of Columbia, the properties are garnering an all-cash price of $374.9 million.

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