SunTrust to Outsource Real Estate Functions

Press release from the issuing company

Monday, August 6th, 2012

SunTrust Banks, Inc. today announced changes in its Corporate Real Estate operations following a strategic evaluation of the area.

Lincoln Harris CSG, an affiliate of Lincoln Property Company, was awarded the facilities management contract for SunTrust's office and operations space and ATMs throughout its footprint.  Under terms of the contract,Lincoln Harris will provide engineering, maintenance, landscaping and other facilities-related services.  The company replaced the previous third-party management firm June 1.

In a separate action, Cassidy Turley was selected to provide additional services to supplement SunTrust'sCorporate Real Estate group.  These services include transaction management, project management, lease administration and portfolio planning for SunTrust's office facilities and branches throughout its footprint.  The company began its engagement July 1.

"Lincoln Harris and Cassidy Turley are both at the forefront of their respective fields," said David Dierker, corporate executive vice president and head of Enterprise Core Services at SunTrust.  "Their depth of knowledge and expertise will help enhance our efforts in planning, operating, and managing our facilities in the most efficient and effective manner possible."