secwatch.observer — SEC 8-K summary
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Issuer:     Apollo Commercial Real Estate Finance, Inc. (ARI)
CIK:        0001467760
Form:       8-K
Filed at:   2026-04-24T23:59:59+00:00
Accession:  0001193125-26-177686
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 1.02, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ARI closes $9B loan portfolio sale to Athene; post-closing book value $12.05/share
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1467760/000119312526177686/0001193125-26-177686-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1467760/000119312526177686/d24584d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-177686

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer