Apollo CREF Shuts Down After $9B Sale

Apollo Commercial Real Estate Finance is shutting down after offloading its $9 billion loan portfolio — a move that netted nearly full value and boosted its stock 23%. With just two loans left and $2.2 billion in cash, the lender’s exit clears the way for insurers like Athene to take over funding for major real estate deals, including high-profile Manhattan conversions and Billionaires’ Row projects, where Apollo took an $82 million hit. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7baf2779b23e8465