Apollo Commercial Real Estate Finance, Inc. Completes $4.2 Billion of Transactions in 2019
09 January 2020 - 12:00AM
Apollo Commercial Real Estate Finance, Inc. (the “Company” or
“ARI”) (NYSE:ARI) today announced the Company committed to $4.2
billion of new investments in 2019, nearly a 42% increase over 2018
loan commitments.
“ARI had an extremely successful year for originations in 2019,
committing to over $4.2 billion of commercial real estate loans
secured by institutional quality properties throughout the United
States and Western Europe,” said Stuart Rothstein, Chief Executive
Officer and President of ARI. “Our European loan originations were
particularly strong in 2019, a testament to Apollo Global
Management’s broad presence in the European real estate market and
the London-based commercial real estate debt team, who has done an
excellent job establishing a reputation as a reliable, creative and
highly regarded capital provider. We completed transactions in new
markets in 2019, including Spain, Italy and Germany and our average
loan size increased from $89.5 million in 2018 to $115.8 million
for this year.”
Fourth Quarter Portfolio
Activity New Investments – During the fourth quarter of
2019, ARI committed capital of $2.2 billion of first mortgage loans
($1.2 billion of which were funded during the quarter).
Funding of Previously Closed Loans – During the
fourth quarter of 2019, ARI funded $143.3 million for loans closed
prior to the quarter.
Loan Repayments – During the fourth quarter of
2019, ARI received $1.2 billion from loan repayments, including
$875.3 million from first mortgage loans and $318.6 million from
subordinate loans.
About Apollo Commercial Real Estate
Finance, Inc. Apollo Commercial Real Estate Finance, Inc.
(NYSE: ARI) is a real estate investment trust that primarily
originates, acquires, invests in and manages performing commercial
real estate first mortgage loans, subordinate financings and other
commercial real estate-related debt investments. The Company is
externally managed and advised by ACREFI Management, LLC, a
Delaware limited liability company and an indirect subsidiary of
Apollo Global Management, Inc., a leading global alternative
investment manager with approximately $323 billion of assets under
management at September 30, 2019.
Additional information can be found on the
Company's website at www.apolloreit.com.
Forward-Looking
StatementsCertain statements contained in this press
release constitute forward-looking statements as such term is
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and such statements are intended to be covered by the safe harbor
provided by the same. Forward-looking statements are subject to
substantial risks and uncertainties, many of which are difficult to
predict and are generally beyond the Company's control. These
forward-looking statements include information about possible or
assumed future results of the Company's business, financial
condition, liquidity, results of operations, plans and objectives.
When used in this release, the words believe, expect, anticipate,
estimate, plan, continue, intend, should, may or similar
expressions, are intended to identify forward-looking statements.
Statements regarding the following subjects, among others, may be
forward-looking: the return on equity; the yield on investments;
the ability to borrow to finance assets; the Company’s ability to
deploy the proceeds of its capital raises or acquire its target
assets; and risks associated with investing in real estate assets,
including changes in business conditions and the general economy.
For a further list and description of such risks and uncertainties,
see the reports filed by the Company with the Securities and
Exchange Commission. The forward-looking statements, and other
risks, uncertainties and factors are based on the Company's
beliefs, assumptions and expectations of its future performance,
taking into account all information currently available to the
Company. Forward-looking statements are not predictions of future
events. The Company disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by
law.
CONTACT:Hilary
GinsbergInvestor Relations (212)
822-0767
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