Apollo REIT To Focus On CMBS

Posted by Orb Staff on July 17, 2009 No Comments
Categories : Commercial Mortgage

rities and Exchange Commission [link=http://www.sec.gov/Archives/edgar/data/1411494/000119312508077312/ds1.htm#ibc38793_16][u]filing[/u][/link] by Apollo Global Management shows that the company is planning to raise $600 million in a public offering of shares in its commercial property fund. Apollo Commercial Real Estate Finance will be organized as a real estate investment trust (REIT) and have a focus on properties in major cities, according to the filing. The REIT plans to buy commerical mortgage-backed securities. JPMorgan Chase will underwrite the stock, and Joseph Azrack will serve as CEO of Apollo Commercial Real Estate Finance. SOUR

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