Apollo Commercial Real Estate Finance, Inc.
Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) operates as an externally managed real estate investment trust that originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The company's website is… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Apollo Commercial Real Estate Finance, Inc. does
In the company’s own words
Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) operates as an externally managed real estate investment trust that originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The company's website is www.apollocref.com.
As of December 31, 2025, ARI maintains a diversified portfolio comprising approximately $8.7 billion of commercial mortgage loans and $62.2 million of subordinate loans and other lending assets. The company also holds $842.9 million of real estate assets with related financing of $425.8 million. The portfolio is financed through $6.3 billion of secured debt arrangements, $746.3 million of senior secured term loans, and $500 million of 4.625% Senior Secured Notes due 2029, with no borrowings outstanding under its $275 million revolving credit facility.
ARI is externally managed and advised by ACREFI Management, LLC, an indirect subsidiary of Apollo Global Management, Inc., a global alternative asset manager with approximately $938.4 billion in assets under management as of December 31, 2025. The Manager leverages Apollo's global infrastructure and operating platform to source, evaluate and manage investments in target assets secured by institutional quality real estate throughout the United States and Europe.
The company's investment strategy emphasizes value-driven underwriting with rigorous credit-oriented evaluation, focusing on stressed in-place cash flows, debt service coverage ratios, loan-to-values and property quality. ARI generally finances mortgage loans with two to three turns of leverage while typically not financing subordinate loans given their inherent structural leverage. The company utilizes derivative financial instruments to hedge interest rate risk and employs match-funded financing structures to align asset and liability maturities and interest rate characteristics.
ARI has elected to be taxed as a REIT for U.S. federal income tax purposes and operates to maintain exclusion from registration under the Investment Company Act of 1940. The company has no employees, with all officers employed by the Manager or its affiliates. In January 2026, ARI entered into an Asset Purchase and Sale Agreement with Athene Holding Ltd. to sell its entire commercial real estate loan portfolio, representing a significant strategic transaction pending stockholder approval.
Company details
- Sector
- Real Estate
- Industry
- REITs
- Headquarters
- NEW YORK, NY
- Fiscal year end
- December
- CIK
- 1467760
- SIC
- 6798
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Apollo Commercial Real Estate Finance, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Apollo Commercial Real Estate Finance, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Apollo Commercial Real Estate Finance, Inc.’s bonds, as funds hold them
Funds report holding 1 issues of Apollo Commercial Real Estate Finance, Inc.’s debt, $87.65M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.63%, maturing 2029 to 2029.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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