NEW YORK, March 06, 2023 (GLOBE NEWSWIRE) — Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI), today announced the Company closed two financing facilities, including one asset backed facility and one revolving credit facility.
The first facility is a master repurchase agreement with Banco Santander, S.A. New York Branch. The facility provides a maximum advance of $300.0 million for the financing of qualifying commercial mortgage loans and has an initial term of two years, with a one-year extension option.
The second facility is a revolving credit facility administered by Bank of America, N.A. The facility provides up to $170.0 million of financing secured by qualifying commercial mortgage loans and real property owned assets and has a term of three years.
Commenting on the facilities, Stuart Rothstein, Chief Executive Officer and President of ARI said: “We continue to explore ways to diversify our funding sources and enhance our liquidity. Both facilities will enable us to efficiently finance ARI’s commercial mortgage loan origination activity, while providing the Company with flexibility in optimizing our balance sheet.”
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 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 high-growth, global alternative asset manager with approximately $548 billion of assets under management as of December 31, 2022.
Additional information can be found on the Company’s website at www.apollocref.com. Please note that our URL address has changed.