Apollo Provides €900 Million Refinancing for Pan-European Logistics and Industrial Portfolio Owned by Cerberus and Arrow Capital Partners
Rhea-AI Summary
Apollo (NYSE: APO) provided an approximately €900 million senior secured refinancing for a pan-European logistics and industrial portfolio owned by a Cerberus and Arrow joint venture.
The financing comprises three senior loan facilities refinancing the SIRE platform, which includes 92 assets totaling over 1 million sqm across the UK, Germany, the Netherlands, Spain, Ireland, and Poland, and is anchored by long-term investment-grade tenants.
Positive
- €900 million senior secured financing completed
- Portfolio comprises 92 institutional-quality logistics and industrial assets
- Portfolio totals more than 1,000,000 square meters of space
- Assets located across six key European distribution corridors
- Refinancing consolidates lender base into a single Apollo-led solution
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
While APO gained 0.89%, key asset manager peers were modestly lower (e.g., BAM -0.83%, BN -0.76%, KKR -0.49%), pointing to a stock-specific move rather than a sector-wide rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 26 | Financing partnership | Positive | -3.5% | Affiliates provide amended credit facility financing for USA TODAY Co. acquisition. |
| Jan 14 | Portfolio CEO appointment | Positive | +0.6% | New CEO named at Stream Data Centers to support hyperscale growth post-Apollo deal. |
| Jan 12 | Preferred equity financing | Positive | -1.3% | Apollo-led investors commit to upsized <b>$3.0 billion</b> QXO preferred equity. |
| Jan 09 | Credit ratings update | Positive | -1.3% | KBRA assigns investment-grade ratings to MidCap Financial Issuer Trust with Stable outlook. |
| Jan 07 | Large capital deployment | Positive | -5.5% | Apollo funds back Valor/xAI data center deal with <b>$3.5 billion</b> capital solution. |
Recent APO deal and capital deployment headlines have often been followed by muted or negative next-day price moves, even when the underlying news appears strategically positive.
Over the past month, Apollo has announced several sizable financings and strategic activities, including a $3.5 billion capital solution for Valor/xAI data center infrastructure and support for a media acquisition credit facility. It also highlighted strong credit ratings at MidCap Financial and participated in a $3.0 billion preferred equity commitment. Despite generally constructive business developments, share reactions often leaned negative, suggesting investors may already price in Apollo’s deployment capabilities. Today’s €900 million pan‑European real estate financing fits this pattern of ongoing platform expansion.
Market Pulse Summary
This announcement highlights Apollo-managed funds arranging an approximately €900 million senior secured refinancing for a pan‑European logistics and industrial portfolio of 92 assets totaling more than one million square meters. It reinforces Apollo’s positioning as an active non‑bank real estate credit provider. In context of other recent large financings, investors may monitor portfolio performance, credit quality in European logistics markets, and how recurring deployment activity translates into fee and spread income over time.
Key Terms
senior secured financing financial
investment grade financial
AI-generated analysis. Not financial advice.
Bespoke, senior secured solution to refinance institutional-quality portfolio and consolidate lender base
NEW YORK, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds have completed an approximately
The investment, split among three separate senior loan facilities, will primarily refinance existing debt of the Strategic Industrial Real Estate (“SIRE”) platform, a joint venture between Cerberus and Arrow. The portfolio comprises 92 institutional-quality assets totaling more than one million square meters of urban and mid-box logistics and industrial space. The portfolio has a diversified tenancy base anchored by long-term, investment grade occupants and is located across key, high-demand European distribution corridors in the UK, Germany, the Netherlands, Spain, Ireland, and Poland.
Ben Eppley, Partner and Head of Real Estate Credit, Europe at Apollo, said, “This bespoke solution refinances a diversified, high-quality portfolio of strategically located logistics and industrial assets, which benefit from resilient demand and supply dynamics. We continue to see strong interest from sponsors seeking holistic, single lender solutions where we can transact with certainty and scale.”
Julio Dominguez, Head of European Financings at Cerberus, commented, “Apollo’s investment reflects the strong market recognition of the value we have built across our SIRE platform. With a high-quality portfolio and robust market fundamentals, this refinancing supports our commitment to advancing our strategy across Europe.”
Apollo’s Real Estate Credit business continues to be one of the most active non-bank lenders across Europe. Other recent investments include senior financing for a UK portfolio of purpose-built student accommodation assets as well as senior financing for Shadowbox Studios’ Shinfield Studios, a new major film and TV production hub in the UK.
Gibson Dunn and Greenberg Traurig acted as legal counsel to the Apollo funds. Eastdil advised Cerberus, and Linklaters acted as legal counsel to Cerberus.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2025, Apollo had approximately
About Cerberus
Founded in 1992, Cerberus is a global alternative investment firm with approximately
About Arrow Capital Partners
Arrow Capital Partners is a private real estate company which invests in equity and debt opportunities specialising in cross-border transactions where it can use its platform and balance sheet to invest with its US and Asia-Pacific capital partners into Europe, as well as European and US investors into the Asia-Pacific region.
Arrow has eight offices covering those markets, with assets of over
Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
Cerberus Contacts
Jason Ghassemi
Chief Communications Officer
Communications@cerberus.com
FAQ
What did Apollo announce on January 29, 2026 about the €900 million refinancing (APO)?
How large is the real estate portfolio refinanced by Apollo (APO) and where is it located?
What type of assets and tenants are in the SIRE portfolio refinanced by Apollo (APO)?
Why is the €900 million Apollo refinancing important for investors in APO?
Who were the advisors and counterparties involved in Apollo's €900 million refinancing (APO)?
