dreamworkscampus

In a bizarre turn of events, just weeks after SunTrust Banks agreed to buy DreamWorks Animation’s Glendale campus for $185 million and lease it back to the studio, the bank is attempting to flip the property for a hefty profit.

SunTrust Equity Funding, the investment arm of Suntrust Banks, now wants $250 million for the campus, Bloomberg Business reports. The nearly half-million-square-foot property is leased to DreamWorks Animation through March 2035.

The brokeage firm CBRE Group, which has the real estate listing, advertises that, “The property provides investors with an exceptional high-quality, low-risk core investment opportunity to acquire an iconic headquarters campus at a significant discount to replacement cost.” SunTrust, CBRE, and DreamWorks have all declined comment on the plans to resell the property.

DreamWorks announced the sale-leaseback agreement of its Glendale campus after its most recent quarter, in which the company reported a loss of $263.2 million.

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