Welcome to our dedicated page for Apollo Comm SEC filings (Ticker: ARI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Apollo Commercial Real Estate Finance, Inc.'s SEC filings document results of operations, material events and governance for ARI, a Maryland corporation with common stock listed on the NYSE. Its 8-K reports furnish quarterly and annual financial results presentations, GAAP and non-GAAP earnings measures, exhibits and Inline XBRL cover data.
Other filings record material definitive agreements, including the amended and restated management agreement among the company, ACREFI Operating, LLC and ACREFI Management, LLC, as well as shareholder voting matters, capital-structure disclosures and governance matters tied to the completed sale of the commercial real estate loan portfolio.
Apollo Commercial Real Estate Finance, Inc. has entered into a Purchase Agreement to sell its commercial real estate loan portfolio to Athene Holding Ltd. The purchase price will be paid entirely in cash and is calculated at 99.7% of the total commitment amount of each loan as of closing. The transaction is described as a sale of substantially all of ARI’s assets and is conditioned on stockholder approval.
The board, following a unanimous Special Committee recommendation, urges stockholders to vote "FOR" the Asset Sale Proposal at a Special Meeting on April 21, 2026. Pro forma estimates show approximately $1.4 billion of net cash and ~$1.7 billion of common stockholders’ equity, equal to ~$12.05 per share, after repayment of indebtedness and transaction expenses.
Apollo Commercial Real Estate Finance, Inc. is asking shareholders to approve a sale of substantially all of its commercial mortgage loan portfolio to Athene under a Purchase Agreement. The Purchase Price equals 99.7% of each loan's total commitment (paid in cash), subject to adjustments and customary closing conditions.
If completed, ARI expects approximately $1.4 billion of net cash and roughly $12.05 per Share of common stockholders' equity pro forma as of December 31, 2025; proceeds will be used to repay indebtedness and transaction expenses and management will evaluate new asset strategies thereafter.
Apollo Commercial Real Estate Finance, Inc. (ARI) reported full-year 2025 net income available to common stockholders of $114 million, or $0.81 per diluted share, and fourth-quarter net income of $26 million, or $0.18 per diluted share.
For 2025, Distributable Earnings were $139 million, or $0.98 per diluted share, and $37 million, or $0.26 per diluted share, in the fourth quarter. Distributable Earnings prior to realized loss on investments and realized gain on litigation settlement were $148.7 million, or $1.05 per diluted share for the year.
The company declared $1.00 per share of common dividends in 2025, implying a stated 9.4% dividend yield and a 0.98x annual dividend coverage ratio based on Distributable Earnings prior to realized loss and gain. Book value of common equity was about $1.7 billion, or $12.14 per share, at year-end.
ARI reported a total commercial real estate loan portfolio of $8.8 billion across 56 loans, with a weighted-average unlevered all-in yield of 7.3%, 99% in first mortgages and 96% floating-rate exposure. The weighted-average portfolio risk rating was 3.0 and weighted-average loan-to-value was 59%.
During 2025, ARI committed $4.4 billion to new loans, saw $2.9 billion of loan repayments and sales, and recorded $899 million of add-on fundings. In the fourth quarter, the company recorded a $3.0 million specific CECL allowance on a commercial mortgage loan secured by a hotel property in Chicago.
Year-end liquidity totaled $151 million, including $144 million of cash and $7 million of available leverage on secured debt arrangements. Management highlighted that there are no corporate debt maturities until June 2029.
Subsequent to year-end, ARI entered into a definitive agreement with Athene Holding Ltd. to sell its entire loan portfolio at a purchase price based on 99.7% of total loan commitments, and received full repayment of an $87 million first mortgage secured by a resort in St. Thomas, U.S. Virgin Islands.
Apollo Commercial Real Estate Finance, Inc. is a REIT that focuses on originating and investing in commercial first mortgage loans, subordinate financings and other real estate debt. As of December 31, 2025, it held about $8.7 billion of commercial mortgage loans, $62.2 million of subordinate loans and $842.9 million of real estate assets.
The portfolio is financed with $6.3 billion of secured debt, $746.3 million of senior secured term loans and $500.0 million of 4.625% senior secured notes due 2029. The company is externally managed by an Apollo subsidiary and relies on leverage, securitizations and hedging to enhance returns while maintaining REIT and 1940 Act exemptions.
A key development is a January 27, 2026 Purchase Agreement with Athene Holding Ltd. to sell substantially all of its commercial real estate loan portfolio, excluding two loans with $146 million principal that are expected to repay before closing. The filing highlights extensive risks around competition, financing, regulation, cybersecurity, climate, REIT status and execution of the proposed asset sale.
Apollo Commercial Real Estate Finance, Inc. executive reports tax‑related share withholding. CFO, Treasurer and Secretary Anastasia G. Mironova reported that on 01/30/2026, 6,385 shares of common stock were withheld by the company at $10.68 per share to cover minimum tax obligations tied to vested restricted stock units (RSUs).
After this withholding, she beneficially owns 75,281 shares of Apollo Commercial Real Estate Finance common stock, including 53,767 RSUs. Each RSU represents a right to receive one share of common stock as it vests under the company’s equity incentive plans.
Apollo Commercial Real Estate Finance, Inc. President & CEO Stuart Rothstein reported a tax-related share withholding tied to vested equity awards. On 01/30/2026, the issuer withheld 61,485 shares of common stock at $10.68 per share to cover minimum tax obligations arising from vested restricted stock units (RSUs).
After this withholding, Rothstein beneficially owned 277,676 shares of common stock, which includes 196,355 RSUs. Each RSU represents the right to receive one share of common stock as it vests, subject to continued service under the company’s 2019 and 2024 equity incentive plans.
Apollo Commercial Real Estate Finance, Inc. agreed to sell its entire commercial real estate loan portfolio to Athene Holding Ltd.. Athene will pay in cash an amount based on 99.7% of the total commitment of each loan at closing, excluding two loans with $146 million of combined principal expected to be repaid beforehand.
Closing requires approval by a majority of outstanding shares, delivery of documents for at least 85% of the aggregate purchase price, and execution of an amended and restated management agreement. The deal includes a go‑shop period through February 21, 2026 and termination fees of $25 million for superior proposals from certain excluded parties or $50 million otherwise. Apollo Management Holdings agreed to reimburse up to $10 million of transaction expenses.
Apollo Commercial Real Estate Finance, Inc. reported an equity award to its Chief Financial Officer, Treasurer and Secretary. On 12/30/2025, the executive acquired 34,825 shares of common stock at a price of $0, increasing his beneficial ownership to 81,666 shares. The reported beneficial ownership amount includes 69,709 restricted stock units granted under the company’s 2019 and 2024 Equity Incentive Plans. Each restricted stock unit represents the right to receive one share of common stock upon vesting, subject to the executive’s continued service and the terms of the applicable award agreements.
Apollo Commercial Real Estate Finance, Inc. insider activity: The company’s President & CEO, who is also a director, reported acquiring 109,452 shares of common stock on 12/30/2025 at a price of $0 per share. Following this transaction, the reporting person beneficially owns 339,161 common shares in total.
The reported holdings include 319,574 restricted stock units (RSUs) granted under Apollo Commercial Real Estate Finance, Inc.’s 2019 and 2024 Equity Incentive Plans. Each RSU gives the right to receive one share of common stock as it vests, as long as the executive continues to serve through the applicable vesting dates.
Apollo Commercial Real Estate Finance, Inc. disclosed that its President & CEO and director sold 52,072 shares of common stock on December 15, 2025. The transactions were reported with a sale code at a weighted average price of $10.1616 per share, with individual trade prices ranging from $10.08 to $10.21.
After these sales, the insider beneficially owns 229,709 shares of common stock. This total includes 210,122 restricted stock units granted under the company’s equity incentive plans, with each unit representing the contingent right to receive one share as it vests, subject to continued service. The sales were effected under a Rule 10b5-1 trading plan adopted on November 13, 2024.