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Apollo Commercial Real Estate enjoys Strong First Half of 2014

Posted on 5 July, 2014 by Jodee Redmond

Apollo Commercial Real Estate Finance, Inc. (ARI), which specialises in high performing US property, has announced that it has closed on two commercial loan transactions worth $93.4 million. The company has also acquired commercial mortgage backed securities (CMBS) with a purchase price of $50.2 million.

In the year to date, Apollo has made a commitment to invest more than $595 million in commercial real estate loans and CMBS.

The company’s new investments include the following:

• A $65.1 million variable rate first mortgage for a 40-unit luxury residential condominium complex in downtown Bethesda, Maryland. #
• A $28.3 million fixed-rate mezzanine loan which has been secured by the equity interest in a 795-room full-service hotel and 226,000 sq ft office and retail condominium located in New York City’s Time Square district.
• $10.0 million of equity to be used for the acquisition of CMBS with an aggregate purchase price of $50.2 million.

The company is off to a very strong start in the first half of 2014 and has committed to more than $595 million of commercial real estate debt investments in the year to date. Its Chief Investment Officer, Scott Weiner, states that the company is continuing to find well-structured transactions which offer attractive returns and that its pipeline remains full.

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