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Apollo Commericial Real Estate (ARI) RSS Feed

Followers
5
Posters
8
Posts (Today)
0
Posts (Total)
14
Created
10/02/09
Type
Free
Moderators

IPO'd September, 2009 - about 50% subscribed at the IPO. Invests in senior commercial real estate debt. Run by the Joseph Azrack, same person who runs Apollo Investment Corporation. (AINV). Saw him on CNBC and he seems like a smart guy. Let's see how this runs over the next few months and years as real estate recovers.

"The estimated net proceeds to ARI from the initial public offering and the concurrent private placement, after the payment of related expenses, are expected to be approximately $208 million (assuming the underwriters’ over-allotment option is not exercised). ARI intends to use the net proceeds from the offering and the concurrent private placement to originate and acquire senior performing commercial real estate mortgage loans, commercial real estate corporate debt and loans and to purchase legacy and newly originated investment grade CMBS, and other performing real estate debt investments."

ARI chart from stockcharts.com

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