Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc. is a Maryland corporation organized in 2009 that operates as a real estate investment trust (REIT) for U.S. federal income tax purposes. The company primarily originates, acquires, invests in, and manages performing commercial first mortgage loans, subordinate financings, and other commercial real estate-related debt investments, referred to as its target assets. It is externally managed and advised by a subsidiary of Apollo Global Management, Inc., which had approximately $938.4 billion in assets under management as of December 31, 2025. This management structure allows the company to leverage Apollo's global infrastructure for sourcing, evaluating, and managing investments. As of December 31, 2025, the company held a diversified portfolio including approximately $8.7 billion of commercial mortgage loans and $62.2 million of subordinate loans and other lending assets. This portfolio was financed with $6.3 billion of secured debt arrangements, $746.3 million in senior secured term loans, and $500.0 million of 4.625% Senior Secured Notes due 2029. Additionally, as of December 31, 2025, the company held $842.9 million of real estate assets and $425.8 million of related financing. The company's main objective is to provide attractive risk-adjusted returns to stockholders, primarily through dividends and secondarily through capital appreciation.