ARI reports Q3 net loss of $0.69/share; $127.5M realized loss on Massachusetts hospital loan

Apollo Commercial Real Estate Finance, Inc.

2024-Q3 EPS reported -$1.23 revenue$233,216,000

Net loss per diluted share of ($0.69); Distributable Earnings per share of ($0.59) or $0.31 before net realized loss.
Recorded $127.5M realized loss on Massachusetts hospital loan; ceased accruing interest in Q3.
Commonwealth of Massachusetts took one hospital by eminent domain; ARI received $9.0M from taking.
As of Sept 30, 2024, ARI holds $159.7M in other assets related to joint venture and deeds in escrow.
Subsequent to quarter end, five of seven remaining hospitals sold to third parties on Oct 1, 2024.

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