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Strategy

Commercial Real Estate

The Annaly Commercial Real Estate Group (“ACREG”) originates and invests in commercial mortgage loans, securities and other commercial real estate debt and equity investments. ACREG offers flexible and customized solutions to borrowers. ACREG focuses on top sponsors with creative business plans, strong and durable markets, and loan structures that mitigate risk. Representing 6% of Annaly’s equity as of June 30, 2020, ACREG maximizes returns through conservative financing strategies utilizing senior loan syndication relationships, credit facilities and the securitization market. Annaly’s commercial investments complement the longer duration fixed-rate agency Mortgage-Backed Securities (MBS) portfolio, as they are primarily shorter, floating rate assets. ACREG is a wholly-owned subsidiary of Annaly Capital Management, Inc. 

Geographic Concentration(1)(2)
CA
14% #7c91a6
TX
15% #4e6f99
VA
11% #00304c
NY
11%   #3d5257
DC 7% #3d5257
FL 6% #475768
Other 36% #5d92b2
Sector Type(1)
Multifamily 14% #5d92b2
Office 26% #c6bbaa
Retail 31% #7c91a6
Other 10% #00304c
Hotel 8% #7ec1db
Healthcare 10%  #00316c
Industrial 1%   #03abcd
Asset Type(1)
Credit CMBS 32% #00304c
Equity 32% #7c91a6
ESG(3)
3% #4e6f99
Mezzanine 8% #7ec1db
Other(4) 6%  #342576
Whole Loan(5)
19% #5d92b2

 

Note: Data as of June 30, 2020. Portfolio statistics and percentages are based on fair market value and reflect economic interest in securitizations. Percentages may not sum to 100% due to rounding.
1. Pie charts exclude CMBX derivatives.
2. Other includes 45 states, none of which represents more than 5% of total portfolio value. The Company looked through to the collateral characteristics of securitizations and equity method investments.
3. Reflects joint venture interests in a social impact loan investment fund that is accounted for under the equity method for GAAP.
4. Reflects limited and general partnership interests in a commercial loan investment fund that is accounted for under the equity method for GAAP.
5. Includes mezzanine loans for which Commercial Real Estate is also the corresponding first mortgage lender.