Apollo Provides €900 Million Refinancing for Pan-European Logistics and Industrial Portfolio Owned by Cerberus and Arrow Capital Partners

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.

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.

Argus Jan 29 session

+1.20% close to close Open Argus

Details

News Market Reaction – APO

In the Jan 29 session, APO gained 1.20%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights Apollo-managed funds arranging an approximately €900 million senior sec...

Analysis

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 Figures

Financing size: €900 million Senior loan facilities: 3 facilities Portfolio assets: 92 assets +1 more

Financing size

€900 million

Senior secured refinancing for pan-European logistics and industrial portfolio

Senior loan facilities

3 facilities

Financing split among three separate senior loan facilities

Portfolio assets

92 assets

Institutional-quality logistics and industrial properties in the SIRE platform

Leasable area

More than one million square meters

Urban and mid-box logistics and industrial space across Europe

Historical Context

5 past events · Latest: Jan 26

5 events

1. Jan 26

   Financing partnership

   24h Move

   -3.5%

   Affiliates provide amended credit facility financing for USA TODAY Co. acquisition.

2. Jan 14

   Portfolio CEO appointment

   24h Move

   +0.6%

   New CEO named at Stream Data Centers to support hyperscale growth post-Apollo deal.

3. Jan 12

   Preferred equity financing

   24h Move

   -1.3%

   Apollo-led investors commit to upsized $3.0 billion QXO preferred equity.

4. Jan 09

   Credit ratings update

   24h Move

   -1.3%

   KBRA assigns investment-grade ratings to MidCap Financial Issuer Trust with Stable outlook.

5. Jan 07

   Large capital deployment

   24h Move

   -5.5%

   Apollo funds back Valor/xAI data center deal with $3.5 billion capital solution.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior secured financing, senior loan facilities, investment grade, non-bank lenders

4 terms

senior secured financing financial

"completed an approximately €900 million senior secured financing of a pan-European"

A senior secured financing is a loan or debt that has first priority to be repaid and is backed by specific assets as collateral, so lenders can seize or sell those assets if the borrower defaults. For investors this matters because it alters risk and return: these loans are generally safer than unsecured or junior debt, often carry lower interest, and are more likely to recover value in a bankruptcy—think of it as a mortgage on a house versus an unsecured credit card balance.

senior loan facilities financial

"The investment, split among three separate senior loan facilities, will primarily"

Senior loan facilities are large bank or syndicated loans that get first claim on a borrower’s cash and assets if the company can’t pay back its debts. Think of them as the people at the front of the repayment line: because they have priority, they generally carry lower interest and lower risk than junior debt, making their presence important to investors assessing a company’s credit safety, recovery prospects in distress, and how much risk equity holders face.

investment grade financial

"tenancy base anchored by long-term, investment grade occupants and is located"

A credit rating label assigned to bonds or borrowers that signals relatively low risk of default; think of it as a strong health check for a company's or government's ability to repay debt. It matters to investors because investment-grade status typically means lower interest costs for the borrower, greater eligibility for conservative funds and pension portfolios, and generally more stable returns compared with higher-risk, non-investment-grade debt.

View in glossary

non-bank lenders financial

"Real Estate Credit business continues to be one of the most active non-bank lenders across Europe."

Non-bank lenders are financial firms that make loans or provide credit but do not offer the full range of banking services like deposit accounts and branch networks. Think of them as specialized loan shops—mortgage companies, fintech lenders, private credit funds or peer-to-peer platforms—that matter to investors because they broaden credit supply, can offer higher returns than banks, and carry different risks tied to funding sources, regulatory rules and economic cycles.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 €900 million senior secured financing of a pan-European logistics and industrial portfolio owned by a joint venture between an affiliate of Cerberus Capital Management (“Cerberus”), a global alternative investment manager, and Arrow Capital Partners (“Arrow”), a specialist investor, credit provider, developer and manager of real estate in Europe and Asia-Pacific .

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 $908 billion of assets under management. To learn more, please visit www.apollo.com.

About Cerberus

Founded in 1992, Cerberus is a global alternative investment firm with approximately $70 billion in assets across complementary credit, real estate, and private equity strategies. Cerberus invests across the capital structure where it believes its integrated investment platforms and proprietary operating capabilities can help improve performance and drive long-term value. Cerberus’ tenured teams have experience working collaboratively across asset classes, sectors, and geographies as they seek to achieve strong risk-adjusted returns for investors. For more information, visit www.cerberus.com.

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 $5bn across office and logistics assets, including developments. The Partners each have a minimum of 20 years investment experience and have been responsible for overseeing US$25bn across all asset classes in multiple jurisdictions, plus a US$8bn development pipeline. Additional information can be found at: www.arrowcapital.co.uk.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Apollo announce on January 29, 2026 about the €900 million refinancing (APO)?

Apollo completed an approximately €900 million senior secured refinancing for a Cerberus-Arrow JV portfolio. According to the company, the financing is split across three senior loans and refinances existing SIRE platform debt across Europe.

How large is the real estate portfolio refinanced by Apollo (APO) and where is it located?

The refinanced portfolio includes 92 assets totaling more than 1 million square meters. According to the company, assets span the UK, Germany, the Netherlands, Spain, Ireland, and Poland in major distribution corridors.

What type of assets and tenants are in the SIRE portfolio refinanced by Apollo (APO)?

The SIRE portfolio comprises urban and mid-box logistics and industrial properties with a diversified tenancy base. According to the company, occupancy is anchored by long-term, investment-grade occupants across multiple European markets.

Why is the €900 million Apollo refinancing important for investors in APO?

The transaction highlights Apollo's activity in European real estate credit and single-lender solutions. According to the company, it demonstrates demand from sponsors for holistic financings and supports Apollo's non-bank lending presence in Europe.

Who were the advisors and counterparties involved in Apollo's €900 million refinancing (APO)?

Gibson Dunn and Greenberg Traurig acted as legal counsel to Apollo; Eastdil advised Cerberus and Linklaters counseled Cerberus. According to the company, the loans were provided to a Cerberus-Arrow joint venture managing the SIRE platform.