Saturday, November 15, 2014

Annaly Commercial Real Estate Group, Inc. Acquires Grocery-Anchored Shopping Center Portfolio


David M. Dworkin
NEW YORK--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly”)  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 Management partner.

For a complete copy of the company’s news release, please contact:

Annaly Capital Management, Inc.
Investor Relations, 1-888-8Annaly


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