Contact Us

Bisnow Deal Of The Month: The Largest Mortgage REIT's $1.5B Expansion


Winner: Annaly Capital's $1.5B buyout of Hatteras Financial

Why: REITs drastically reversed course in Q1, dumping assets where they had previously been net buyers—making it all the more impressive for Annaly Capital to snatch up a competitor in a $1.5B expansion.

Annaly acquired the North Carolina-based mortgage REIT for $15.85/share, a 25% premium from where Hatteras was trading, showing that Annaly wasn't afraid to flash some cash, even with Q1's market turmoil.

The deal by the country's largest mortgage REIT was a rare highlight in a month filled with Chinese debt bubbles, tumbling profits and the Fed putting the brakes on rate hikes—all pointing towards a lackluster economic showing.

Annaly's bullish expansion in the midst of these bearish signs has earned it Bisnow's April Deal of the Month.

Honorable Mentions:

This is the fourth in a monthly series of articles recognizing the best deals in commercial real estate. Please send your nominations for a local Deal of the Month here.