Annaly Capital Management, Inc. and Capital Impact Partners (“Capital Impact”) announced the launch of a new joint venture (“Venture”) with a $25 million commitment to support affordable housing and other community development projects in Washington, D.C. (“D.C.”). This Venture represents Annaly’s second impact investing partnership since 2017 with Capital Impact, a national mission-driven non-profit community development financial institution. As an innovative structure in the mortgage REIT sector, the Venture provides direct financing for socially responsible projects in low-income communities while simultaneously enabling Capital Impact to further expand its efforts in key cities like Washington, D.C. Annaly’s commitment will support Capital Impact’s management of the D.C. Affordable Housing Preservation Fund in partnership with the city’s Department of Housing and Community Development. The Venture is closely aligned with Annaly’s focus on housing finance given Capital Impact’s work in preserving affordable housing. Various community development projects will also benefit from the Venture within the D.C. area. Capital Impact and Annaly have created a strong, long-term partnership through two joint ventures with a combined $50 million of commitments, which are designed to invest in loans that are cash flow generating, seasoned assets owned by Capital Impact. The investments represent a diverse mix of projects within the social impact investing landscape. Each joint venture is structured to make investments over a five-year period from the respective launch, and Capital Impact and Annaly have the option to increase their overall investment as each venture matures.