NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly”) today announced
that its subsidiary Annaly Commercial Real Estate Group, Inc. (“ACREG”)
has closed the acquisition of a portfolio of grocery-anchored shopping
centers. The portfolio consists of eleven properties totaling 1.48
million square feet.
ACREG will own the portfolio in partnership with JADD Management, a
commercial real estate company located in Rochester, NY.
This opportunity is consistent with ACREG’s equity investment strategy
of acquiring quality commercial and multifamily properties with stable
cash flows at attractive yields.
“We believe that this portfolio displays our commitment to strategically
building a broader equity investment profile within our commercial
platform,” said Robert Restrick, Annaly’s Head of Commercial
Investments. As of September 30, 2014, Annaly has approximately $1.6
billion invested in commercial real estate loans and properties.
"This acquisition allows us to continue with our strategy of acquiring
quality necessity-based retail real estate. Although our portfolio spans
multiple states, we remain heavily concentrated in upstate New York and
that market has always served us well,” said David M. Dworkin, a JADD
Annaly’s principal business objective is to generate net income for
distribution to its shareholders from its investments. Annaly is a
Maryland corporation that has elected to be taxed as a real estate
investment trust (“REIT”). Annaly is managed and advised by Annaly
Management Company LLC.
About JADD Management, LLC
JADD Management, LLC is a full service commercial real estate
development and management company.
This news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements which are based on various assumptions (some
of which are beyond our control) may be identified by reference to a
future period or periods or by the use of forward-looking terminology,
such as “may,” “will,” “believe,” “expect,” “anticipate,” “continue,” or
similar terms or variations on those terms or the negative of those
terms. Actual results could differ materially from those set forth in
forward-looking statements due to a variety of factors, including, but
not limited to, changes in interest rates, changes in the yield curve,
changes in prepayment rates, the availability of mortgage-backed
securities and other securities for purchase, the availability of
financing and, if available, the terms of any financing, changes in the
market value of our assets, changes in business conditions and the
general economy, our ability to consummate any contemplated investment
opportunities, our ability to grow the commercial mortgage business,
credit risks related to our investments in commercial real estate assets
and corporate debt, changes in government regulations affecting our
business, our ability to maintain our qualification as a REIT for
federal income tax purposes, our ability to maintain our exemption from
registration under the Investment Company Act of 1940, as amended, risks
associated with the broker-dealer business of our subsidiary, and risks
associated with the investment advisory business of our subsidiary. For
a discussion of the risks and uncertainties which could cause actual
results to differ from those contained in the forward-looking
statements, see “Risk Factors” in our most recent Annual Report on Form
10-K and any subsequent Quarterly Reports on Form 10-Q. We do not
undertake, and specifically disclaim any obligation, to publicly release
the result of any revisions which may be made to any forward-looking
statements to reflect the occurrence of anticipated or unanticipated
events or circumstances after the date of such statements.
Annaly Capital Management, Inc.
Investor Relations, 1-888-8Annaly
Source: Annaly Capital Management, Inc.