Apollo Commercial Real Estate Finance Inc. (ARI) announced today that a recent acquisition of a newly constructed hotel in midtown Manhattan has pushed the company’s total investment portfolio to $540.7m, including the redistribution of $195.4m of equity capital. Quantifying the years the company has been in business, Apollo’s current investment portfolio is comprised of $110m in newly originated first mortgage loans, $59m in newly originated mezzanine loans and $371.7m in commercial mortgage-backed securities (CMBS). In addition to the equity deployed, the company utilized $306.6m of Term Asset-Backed Securities Loan facility financing and $38.7m under JPMorgan in order to fund its investment portfolio. JPMorgan is also financing the loan that Apollo is using to to pay its $24m two-year fixed-rate mortgage on the 155-room hotel. Apollo Commercial Real Estate Finance, Inc. is a commercial real estate investment trust (REIT) that originates, invests in, acquires and manages senior performing commercial real estate loans, commercial mortgage-backed securities and other commercial real estate-related debt investments in the U.S. The company is externally managed by Apollo Commercial Real Estate Finance Inc. Management, LLC, an indirect subsidiary of Apollo Global Management. Write to Christine Ricciardi. The author holds no relevant investments.
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