Apollo Commercial Real Estate Finance, Inc. Overview
Pro stress-test →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, an indirect subsidiary of Apollo Global Management, Inc., a global alternative asset manager with approximately $938 billion of assets under management at December 31, 2025. Following a transformational shift in 2026, the company is transitioning from an active lending platform to a cash-focused liquidation entity.
Strategic Profile
Pro stress-test →Apollo Commercial Real Estate Finance completed the sale of the Company's $9 billion commercial real estate loan portfolio to Athene Holding Ltd. in April 2026. Following repayment of ARI's financing facilities, other indebtedness, and transaction expenses, ARI's total assets, consisting primarily of cash, will total $2.2 billion, equating to a book value per share of common stock of approximately $12.05. The company is now focused on capital return to shareholders and liquidation of remaining real estate owned (REO) assets.
Competitive Landscape
Pro stress-test →ARI no longer operates as a direct CRE lender competing with platforms like Blackstone Mortgage Trust, Ladder Capital, and CBRE Capital. Instead, it now competes within the broader REO asset disposition and liquidation space, where execution depends on market timing and asset quality relative to alternative disposition channels (broker-assisted sales, portfolio securitizations, direct investor sales).
Industry Context
Apollo Commercial Real Estate Finance, Inc. operates in Real Estate Investment Trusts (REITs).
Key facts
Founded: 2009 · Headquarters: New York, US · Employees: N/A · Revenue: N/A · Market cap: N/A