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Stock Market & Financial Investment News

News Breaks
November 12, 2012
08:32 EDTARIApollo Commercial announces $50M capital deployment
Apollo Commercial Real Estate Finance, or ARI, announced the closing of a $50M mezzanine loan secured by equity interests in a borrower that owns a portfolio of three full-service conference hotels located in Dallas, TX, Denver, CO and St. Louis, MO, totaling 3,981 keys. The mezzanine loan has been underwritten to generate an internal rate of return of approximately 12.6%. The mezzanine loan is part of a $410M four-year, floating rate loan refinancing comprised of a $295M first mortgage and a $115M mezzanine loan, which was bifurcated into a $65M senior portion and ARI's $50M junior portion. ARI's mezzanine loan has an interest rate of one-month LIBOR + 10.9%, 30-year amortization and a loan-to-value of 61% or approximately $103,000 per key.
News For ARI From The Last 14 Days
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December 15, 2014
08:01 EDTARIApollo Commercial names Jeffrey Gault as Chairman, effective immediately
Apollo Commercial Real Estate Finance announced the Board of Directors of the company has elected Jeffrey Gault to serve as a director and Chairman of the Board, effective immediately. Gaultís appointment brings the total number of independent directors on ARIís Board to five out of seven seats.

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