8-K
filed April 24, 2026, 7:59 PM ET
ticker ARI
CIK 0001467760
M&A
confidence high
sentiment neutral
materiality 1.00
Apollo Commercial Real Estate Finance, Inc. (ARI): M&A transaction — ARI closes $9B loan portfolio sale to Athene; post-closing book value $12.05/share
Apollo Commercial Real Estate Finance, Inc.
- Sold $9B CRE loan portfolio to Athene for $8.6B cash (99.7% of commitment); stockholders approved Apr 21.
- Post-closing total assets ~$2.2B cash; book value per share $12.05.
- Management fee reduced 50%, paid in shares of common stock to align interests.
- Evaluating new CRE strategies; if none announced by year-end, Apollo to recommend dissolution.
- Repaid $500M 4.625% notes (redemption June 15, 2026) and terminated term loan & revolver.
Key facts
Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Apollo Commercial Real Estate Finance, Inc. completed a disposition involving Athene Holding Ltd. for approximately $8.6 billion (closed 2026-04-24).
- Action
- disposition
- Counterparty
- Athene Holding Ltd.
- Consideration
- approximately $8.6 billion
- Closing
- 2026-04-24
Exact text from the filing
On the Closing Date, pursuant to the terms and subject to the conditions of the Asset Purchase and Sale Agreement, dated January 27, 2026 (as amended or modified, the “Purchase Agreement”), by and between the Company and Athene Holding Ltd. (“Athene”), the Company sold its commercial real estate loan portfolio (other than loans that were repaid prior to closing or are expected to be repaid in May) to Athene (the “Asset Sale”) for cash consideration of approximately $8.6 billion, which is based on 99.7% of the total commitment amount of such loans as of the Closing Date, subject to certain adjustments as provided in the Purchase Agreement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Apollo Commercial Real Estate Finance, Inc. terminated Indenture with Computershare Trust Company, National Association valued at $500,000,000 (effective 2026-04-24).
- Action
- termination
- Agreement
- notes offering
- Counterparty
- Computershare Trust Company, National Association
- Value
- $500,000,000
- Effective
- 2026-04-24
Exact text from the filing
the Trustee delivered a notice of redemption to the holders of the Company’s 4.625% Senior Secured Notes due 2029 (the “Notes”), stating that the Company will redeem in full all $500,000,000 in aggregate principal amount of the outstanding Notes on the redemption date of June 15, 2026
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Apollo Commercial Real Estate Finance, Inc. terminated Term Loan Credit Agreement with Goldman Sachs Bank USA (effective 2026-04-24).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Goldman Sachs Bank USA
- Effective
- 2026-04-24
Exact text from the filing
the Company caused the repayment in full of (i) all outstanding term loans and other obligations under the Term Loan Credit Agreement, dated as of June 13, 2025 (as amended, restated, supplemented or otherwise modified from time to time, the “Term Loan Credit Agreement”), among the Company, as Borrower, the lenders party thereto from time to time, and Goldman Sachs Bank USA, as Administrative Agent and Collateral Agent
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Apollo Commercial Real Estate Finance, Inc. entered into Amended and Restated Management Agreement with ACREFI Management, LLC (effective 2026-04-24).
- Action
- entry
- Counterparty
- ACREFI Management, LLC
- Effective
- 2026-04-24
Exact text from the filing
Amended and Restated Management Agreement Apollo Commercial Real Estate Finance, Inc., a Maryland corporation (the “Company”), ACREFI Operating, LLC, a subsidiary of the Company (“Operating LLC”), and ACREFI Management, LLC (the “Manager”) have entered into an Amended and Restated Management Agreement (the “A&R Management Agreement”) on April 24, 2026
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Apollo Commercial Real Estate Finance, Inc. terminated Amended and Restated Credit Agreement with Bank of America, N.A. valued at $275,000,000 (effective 2026-04-24).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A.
- Value
- $275,000,000
- Effective
- 2026-04-24
Exact text from the filing
all commitments under the Revolving Credit Facility were terminated in accordance with the terms of the Revolving Credit Facility. 4.625% Senior Secured Notes due 2029 On the Closing Date, in connection with the closing of the Asset Sale and in accordance with the Indenture, dated as of June 29, 2021
View on SEC.gov
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