Last $16.43 USD
Change Today -0.01 / -0.06%
Volume 219.2K
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As of 2:33 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

apollo commercial real estat (ARI) Key Developments

Apollo Commercial Real Estate Finance, Inc. Announces Closing of Two Commercial Real Estate Loan Transactions

Apollo Commercial Real Estate Finance, Inc. announced the company closed two commercial real estate loan transactions totaling $54.5 million.

Apollo Commercial Real Estate Finance, Inc. Closes $50 Million Mezzanine Loan

Apollo Commercial Real Estate Finance, Inc. announced the company closed a $50 million mezzanine loan. In addition, the Company completed the syndication of the $90 million senior participation in the $155 million whole loan secured by a resort hotel in Aruba, which ARI acquired last month. As previously announced, the Company retained a $65 million junior participation in the whole loan. Year-to-date, ARI has committed to invest in over $645 million of commercial real estate loan transactions and commercial mortgage backed securities. ARI closed a $50 million floating-rate mezzanine loan secured by the equity interest in a portfolio of 167 wholly owned skilled nursing facilities located across 19 states. The mezzanine loan was issued in connection with the refinancing of the portfolio and paid off the existing $47 million mezzanine loan ARI acquired in 2013. ARI realized an internal rate of return of approximately 12% on the repaid loan. The new mezzanine loan has a two-year initial term with three one-year extension options and an underwritten loan-to-value of 62%. The mezzanine loan was underwritten to generate an IRR of approximately 12%.

Apollo Commercial Real Estate Finance, Inc. Declares Quarterly Preferred Dividend, Payable on July 15, 2014

Apollo Commercial Real Estate Finance, Inc. announced the Board of Directors has declared a cash dividend on the company's 8.625% Series A Cumulative Redeemable Perpetual Preferred Stock of $0.5391 per share for the quarterly period ending on July 15, 2014. The preferred dividend is payable on July 15, 2014 to preferred stockholders of record as of June 30, 2014.

Apollo Commercial Real Estate Finance, Inc. Presents at 2014 Wells Fargo Specialty Finance Conference, May-20-2014 02:30 PM

Apollo Commercial Real Estate Finance, Inc. Presents at 2014 Wells Fargo Specialty Finance Conference, May-20-2014 02:30 PM. Venue: InterContinental Times Square, 300 W 44th St, New York, NY 10036, United States. Speakers: Megan B. Gaul, Chief Financial Officer, Principal Accounting Officer, Secretary and Treasurer, Stuart A. Rothstein, Chief Executive Officer, President and Director.

Apollo Commercial Real Estate Seeks Acquisitions

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) is looking for acquisitions. Apollo Commercial Real Estate Finance, Inc. announced an offering of 9 million shares of its common stock. Apollo Commercial intends to use a portion of the net proceeds of this offering to repay amounts outstanding under the JPMorgan Facility. The balance of the net proceeds remaining will be used to acquire its target assets and for general corporate purposes.

 

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Price/Cash Flow 13.2x
TEV/Sales 4.5x
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