NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly”) today announced
that its subsidiary Annaly Commercial Real Estate Group, Inc. has
commenced an initiative to acquire net leased commercial real estate
assets across a wide array of markets and industries, including
industrial, office, retail and restaurant properties. Annaly will
purchase commercial properties of a certain size and profile sourced and
managed exclusively for Annaly by affiliates of The Inland Real Estate
Group of Companies, Inc. (“Inland”). Inland is one of the nation’s
leading providers of commercial real estate services. Since 2002, Inland
has acquired in excess of $35 billion of commercial properties,
including $11 billion of net leased acquisitions, and maintains a
national presence with over $20 billion in commercial real estate assets
under management.
“We believe that the potential to utilize Inland’s extensive experience
acquiring, managing, leasing, financing and developing real estate
nationwide will complement our ability to take advantage of a variety of
opportunities as we expand our commercial platform into ownership of
real property,” said Wellington J. Denahan, Annaly’s Chairman and Chief
Executive Officer. This initiative further augments Annaly’s continued
expansion of its commercial real estate portfolio. As of March 31, 2014,
Annaly owned approximately $1.7 billion in commercial real estate
assets, an increase from $1.0 billion at June 30, 2013.
Dan Goodwin, Inland’s Chairman and Chief Executive Officer said, “We are
honored to have been chosen by Annaly to assist in creating an enviable
net lease platform and excited about our strategic relationship.” Joe
Cosenza, a Vice Chairman of Inland and President of Inland Real Estate
Acquisitions, Inc., who is leading the Inland team said, “Annaly’s
impressive expansion of its commercial real estate business highlights
the strength of its balance sheet and flexibility, and we look forward
to helping one of the largest mortgage REITs leverage upon those
attributes.”
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.
Inland is one of the nation’s leading providers of commercial real
estate services with companies specializing in a variety of areas
including acquisitions, auctions, brokerage, development, and financing.
Inland offers real estate investment opportunities backed by more than
40 years of experience and an unrivaled track record. Programs include
real estate investment trusts, specialty funds, limited partnerships and
1031 exchanges.
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,
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
www.annaly.com
Source: Annaly Capital Management, Inc.