Annaly Capital Management (NLY) to Sell Its Commercial Real Estate Business to Slate Asset Management for $2.33 Billion
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Annaly Capital Management, Inc. Announces Agreement to Sell Its Commercial Real Estate Business to Slate Asset Management for $2.33 Billion
March 25, 2021 4:05 PM EDTNEW YORK--(BUSINESS WIRE)-- Annaly Capital Management, Inc. (NYSE: NLY) (Annaly or the Company) today announced that it has entered into a definitive agreement to sell its Commercial Real Estate business to Slate Asset Management L.P. (Slate), a global investment and asset management firm focused on real estate.
The transaction is valued at $2.33 billion and represents substantially all of the assets that comprise the Companys Commercial Real Estate business, which include equity interests, loan assets and commercial mortgage-backed securities. Certain Annaly employees who primarily support the Commercial Real Estate business are expected to... More
