Hunton Andrews Kurth LLP is advising Annaly Capital Management, Inc. (Annaly) in the sale of its middle market lending portfolio to Ares Capital Management LLC. The $2.4 billion transaction is expected to close by the end of the second quarter of 2022 and represents substantially all of Annaly’s middle market lending assets.

The multidisciplinary Hunton Andrews Kurth team advising Annaly on the transaction includes Rob Smith, Brian Clarke, Greta Griffith, Jim Seevers, Eric Nedell, Michael Goldman, Shelly Anderson, Angie Yearick and Mark Connolly.

Hunton Andrews Kurth has extensive experience advising diversified capital management companies on significant M&A deals, including representation of Pebblebrook Hotel Trust in its $5.1 billion takeover of LaSalle Hotel Properties, Industrial Logistics Properties Trust in its $4 billion acquisition of Monmouth Real Estate Investment Corp., Service Properties Trust in its $2.4 billion acquisition of Spirit MTA REIT’s property portfolio, and Capstead Mortgage Corp. in its $1.07 billion merger with Franklin BSP Realty Trust, Inc.