Truist Bank Tenant Overview

Tenant Description

In February 2019, BB&T Corporation (NYSE: BBT) and SunTrust Banks, Inc. (NYSE: STI) announced a merger to become the sixth-largest U.S. bank based on assets and deposits. With 275 years of combined BB&T and SunTrust history, Truist (NYSE: TFC) offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending and wealth management. Headquartered in Charlotte, North Carolina, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country.

BB&T continues to be a strong net lease asset to hold. While most banks tend to sign ground leases, BB&T typically signs NNN leases. While both leases place zero landlord responsibility on the investor, a NNN lease will carry higher rents than the ground leased counterparts.

Based in Charlotte, NC, Truist operates more than 2,781 financial branches in 15 states and Washington, DC. BB&T offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services.

A Fortune 500 company, Truist is consistently recognized for outstanding client satisfaction by the US Small Business Administration, and executed nearly 23 Billion in revenue.