NEW YORK--(BUSINESS WIRE)--AG Mortgage Investment Trust, Inc. (NYSE: MITT)  announced today the completion of its previously announced acquisition of a stabilized portfolio of 1,225 single-family rental (“SFR”) homes located predominantly in the Southeast U.S. from funds affiliated with Connorex-Lucinda, LLC (“Conrex”). As part of the completed transaction, MITT entered into a Property Management Services Agreement with Conrex whereby Conrex will continue to provide property management services with respect to the properties.

MITT acquired the portfolio for approximately $140 million. In conjunction with the transaction, the Company financed the portfolio with approximately $37 million of cash on hand and approximately $103 million of 5-year, fixed rate debt.

ABOUT AG MORTGAGE INVESTMENT TRUST, INC.

AG Mortgage Investment Trust, Inc. is a real estate investment trust that invests in, acquires and manages a diversified portfolio of residential and commercial mortgage assets, other real estate-related securities and financial assets. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., an SEC-registered investment adviser that specializes in alternative investment activities.

Additional information can be found on the Company's website at www.agmit.com.

ABOUT ANGELO GORDON

Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988. The firm currently manages approximately $28 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 450 employees, including more than 170 investment professionals, and is headquartered in New York, with offices in the U.S., Europe and Asia. For more information, visit www.angelogordon.com.

ABOUT CONREX

Conrex is a privately held company that owns and/or operates more than 7,500 SFR homes, and has provided more than 25,000 residents with a place to call home. The company utilizes cutting-edge logistics to be the most purpose driven, people-centric, and operationally efficient SFR operator in the U.S. Conrex is headquartered in Charleston, SC and has market offices throughout the Southeast and Midwest. For more information, visit www.rentconrex.com.