LONDON -(Dow Jones)- Barclays PLC (BARC.LN), the lender, Monday announced a definitive agreement to sell certain real estate loans to CreXus Investment Corp. (CXS), a commercial mortgage real estate investment trust. MAIN FACTS: -CreXus is externally managed by Fixed Income Discount Advisory Company, which is a wholly-owned subsidiary of Annaly Capital Management, Inc. (NLY), the largest mortgage REIT in the U.S.. -The Assets consist of a portfolio of 30 commercial real estate assets, including commercial mortgage loans, subordinate notes and mezzanine loans, which are being sold for a total consideration of $0.586 billion in cash. -Barclays is not providing funding to CreXus for the purchase of the Assets. -The closing of the transaction is contingent upon the completion of certain conditions precedent, including the successful completion of a common stock offering by CreXus, and obtaining certain consents. -The sale of the Assets is part of continued efforts by Barclays to manage its legacy commercial real estate assets for value whilst reducing exposure over time. -Barclays PLC shares at 1005 GMT up 2.55% at GBP2.89 valuing the company at GBP35.28 billion. -By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314; jana.weigand@dowjones.com
