Slate Asset Management’s $2.33 Billion Acquisition of Annaly’s Commercial Real Estate Business

Ropes & Gray advised Annaly Capital Management in the deal. McCarthy Tétrault LLP advised Slate.

Annaly Capital Management entered into an agreement to sell its commercial real estate business to Slate Asset Management for $2.33 billion.

Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. Annaly’s principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies.

Slate Asset Management is a leading real estate-focused alternative investment platform with approximately $6.5 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly traded investment vehicles, which are tailored to the unique goals and objectives of its investors.

The Ropes & Gray team that represented Annaly Capital was led by private equity partner Robb Tretter (Picture) and real estate partner Daniel Stanco, and included tax partner James Brown, asset management partners Amanda Persaud and Joel Wattenbarger, employment, executive compensation & benefits partner Alexandra Alperovich (all of New York), debt finance partner Patricia Lynch, litigation & enforcement partner Peter Welsh, real estate partner Peter Alpert (all of Boston), private equity associates Patrick Dorime, Paul White and Patrick Gilmartin, real estate counsel Owen LaFreniere, real estate associate Alessandra Tarcher, tax associate Brian Harris (all of New York), finance associate Andrew Hogan(Boston), and many others.

The McCarthy Tétrault team was  led by Matthew Cumming and included Jeremy Pleasant and Gianluca Mazzanti (Business) and Patrick McCay (Tax).

Involved fees earner: Matthew Cumming – McCarthy Tétrault; Gianluca Mazzanti – McCarthy Tétrault; Patrick McCay – McCarthy Tétrault; Jeremy Pleasant – McCarthy Tétrault; Alexandra Alperovich – Ropes & Gray; Peter Alpert – Ropes & Gray; James Brown – Ropes & Gray; Patrick Dorime – Ropes & Gray; Patrick Gilmartin – Ropes & Gray; Brian Harris – Ropes & Gray; Andrew Hogan – Ropes & Gray; Owen LaFreniere – Ropes & Gray; Patricia Lynch – Ropes & Gray; Amanda Persaud – Ropes & Gray; Daniel Stanco – Ropes & Gray; Alessandra Tarcher – Ropes & Gray; Robb Tretter – Ropes & Gray; Joel Wattenbarger – Ropes & Gray; Peter Welsh – Ropes & Gray; Paul White – Ropes & Gray;

Law Firms: McCarthy Tétrault; Ropes & Gray;

Clients: Annaly Capital Management; Slate Asset Management LP;

Author: Martina Bellini