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News Breaks | | | | November 12, 2012 | | 08:32 EDT |  | ARI | Apollo 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. | |
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News For ARI From The Last 14 Days Check below for free stories on ARI the last two weeks. |
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| May 16, 2013 | | 07:41 EDT |  | ARI | Wells Faro to host a conference
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