SunTrust buys DreamWorks Animation property

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The L.A. Times is reporting that an investment arm of SunTrust Banks Inc. has acquired DreamWorks Animation’s plush, Tuscany-style campus in Glendale.

In a regulatory filing on Thursday, DreamWorks Animation disclosed that SunTrust Equity Funding had signed an agreement earlier this week to purchase the DreamWorks campus for $185 million.

The sale includes 10 buildings on about 15 acres of land, which was developed two decades ago and is dotted with olive trees, oaks and a koi pond.

DreamWorks isn’t exiting the property, however. Instead, the studio behind the “Shrek” movies will lease the property from SunTrust Equity Funding, a subsidiary of the bank holding company based in Atlanta.

You can read the full story at LA times.com.

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