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| 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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