Annaly Capital Management, Inc. Announces Expansion of Commercial Real
NEW YORK -- May 1, 2013
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly”) today announced the
recent hiring of several key additions to its existing commercial real estate
platform. “Over the past few months, FIDAC has continued to grow its
commercial real estate expertise,” said Wellington J. Denahan, Annaly’s
Chairman and Chief Executive Officer. “Given the size of the opportunity that
we see in the commercial real estate market, we are investing in additional
personnel to further complement our origination, underwriting and asset
management capabilities within this asset class.”
Annaly previously announced that its acquisition of CreXus Investment Corp.
(NYSE:CXS) (“CreXus”) will close on May 23, 2013. Annaly’s acquisition of
CreXus allows Annaly to wholly own the commercial real estate platform and
significantly enhance CreXus’ capabilities and growth through the use of
Annaly’s broad capital base.
Annaly’s commercial real estate platform will be headed by Robert Restrick,
Managing Director of Annaly. Mr. Restrick has over 23 years experience in the
commercial real estate industry. Mr. Restrick joined FIDAC in April 2010 as an
Executive Vice President and has served as the Chief Operating Officer of
CreXus since June 2011. Prior to joining Annaly, Mr. Restrick served as Head
of the Structured Products Group, Portfolio Management and Co-Head of the
Capital Markets Conduit of CWCapital Investments LLC. Key additions to the
commercial real estate group include the following executives:
Donald Haber – Mr. Haber joined Annaly as a Managing Director, Head of
Commercial Real Estate Credit. Mr. Haber has over 25 years experience in the
commercial real estate industry. Prior to Annaly, Mr. Haber served as Co-Chief
Credit Officer at Cantor Commercial Real Estate. Prior to that, he was the
Chief Credit Officer for the U.S. CMBS unit of Barclays Capital.
Peter Morral – Mr. Morral joined as Executive Director, focused on
Origination. Mr. Morral has over 17 years experience in the commercial real
estate industry. Prior to Annaly, Mr. Morral served as Managing Director of
UBS Securities LLC, where he was Head of Institutional Client and Large Loan
originations. Prior to joining UBS, Mr. Morral was a senior member of the
Large Loan Principal & Advisory Group at Wachovia Securities; a Director in
the CMBS new issuance group at Standard & Poor's; and worked on both the loan
origination and securitization groups in the Mortgage Finance Group at Bank of
America Securities LLC.
Gary Romaniello –Mr. Romaniello joined as Executive Director, focused on
Origination. Mr. Romaniello has over 20 years experience in the commercial
real estate industry. Prior to Annaly, Mr. Romaniello served as Executive
Director at CIBC World Markets, where he was responsible for the origination
of commercial real estate loans on a national basis for the bank’s balance
sheet as well as for securitization.
Matt Higgins – Mr. Higgins joined as Executive Vice President, focused on
Origination. Mr. Higgins has over 18 years experience in the commercial real
estate industry. Prior to Annaly, Mr. Higgins served as Executive Director at
UBS Real Estate Securities, where he was responsible for sourcing,
structuring, negotiating and originating over $2.3 billion of secured
commercial real estate debt on both a fixed and floating rate basis. Before
UBS, Mr. Higgins performed similar responsibilities at Morgan Stanley.
Michael Jo – Mr. Jo joined Annaly as Associate General Counsel, Head of Legal
and Structuring – Commercial Real Estate. Mr. Jo has over 13 years of
experience in the commercial real estate and structured finance industries.
Prior to joining Annaly, Mr. Jo was at KSL Capital Partners, Fortress
Investment Group and CWCapital managing legal, strategy and execution of
high-yield real estate debt investments and CMBS.
Henry Gom – Mr. Gom joined as Senior Vice President, focused on Origination
and Business Development. Mr. Gom has over 15 years experience in the
commercial real estate industry. Prior to Annaly, Mr. Gom served as Senior
Vice President of Savills LLC, where he was responsible for restructuring and
sourcing investments with global lenders, institutional owners, regional
operating partners, real estate funds and REITs. Prior to Savills, Mr. Gom was
at Citi Property Investors and Merrill Lynch & Co.
Greg Kiely – Mr. Kiely joined as Senior Vice President, focused on
Underwriting. Mr. Kiely has over 7 years experience in the commercial real
estate industry. Prior to Annaly, Mr. Kiely served as Director of Real Estate
Finance at CIBC World Markets, where he was responsible for the original
underwriting and subsequent asset management of a portfolio of floating rate
senior mortgage loans and credit facility commitments. Mr. Kiely previously
spent five years at Barclays Capital in its commercial real estate division.
About Annaly Capital Management, Inc.
Annaly’s principal business objective is to generate net income for
distribution to shareholders from its investment securities and from dividends
it receives from its subsidiaries. Annaly is a Maryland corporation that has
elected to be taxed as a real estate investment trust (“REIT”).
This news release and our public documents to which we refer contain or
incorporate by reference certain 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 for purchase;
the availability of financing and, if available, the terms of any financings;
changes in the market value of our assets; changes in business conditions and
the general economy; our ability to integrate the commercial mortgage
business; our ability to consummate any contemplated investment opportunities;
risks associated with the businesses of our subsidiaries, including the
investment advisory business of our wholly-owned subsidiaries, including: the
removal by clients of assets managed, their regulatory requirements, and
competition in the investment advisory business; risks associated with the
broker-dealer business of our wholly-owned subsidiary; changes in government
regulations affecting our business; our ability to maintain our qualification
as a REIT for federal income tax purposes; and our ability to maintain our
exemption from registration under the Investment Company Act of 1940, as
amended. 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.
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