Ropes & Gray advised Annaly Capital Management in an agreement to sell its commercial real estate business to Slate Asset Management for $2.33 billion. The transaction was announced on March 25. The press release is here.
Annaly Capital is a leading diversified capital manager that invests in and finances residential and commercial assets. Slate Asset Management is a real estate-focused alternative investment platform with approximately $6.5 billion in assets under management.
The Ropes & Gray team that represented Annaly Capital was led by private equity partner Robb Tretter 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 associate Patrick Dorime, real estate associate Alessandra Tarcher (both of New York), and many others.
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