Apollo Commercial Real Estate Finance Inc
apollocref.comApollo Commercial Real Estate Finance Inc (NYSE: ARI) is a commercial real estate finance company that originates, acquires, and manages commercial first mortgage loans, subordinate financings, and other commercial real estate debt investments. It makes money by earning net interest income on its loan portfolio, collecting the spread between borrowing costs and the interest rates charged on originated or acquired debt instruments. ARI is externally managed by an affiliate of Apollo Global Management Inc, a large alternative asset manager, which directs investment strategy and day-to-day operations. The company is structured as a real estate investment trust (REIT), requiring it to distribute at least 90% of taxable income to shareholders as dividends. Its loan book is concentrated in senior mortgage loans secured by commercial real estate assets. The 10-K for the fiscal year ended December 31, 2025 was filed February 10, 2026 under accession number 000119312526044725. Because the filing excerpts provided do not include portfolio size, loan counts, segment revenue breakdowns, or geographic concentration data, those specifics are omitted here.
Products & Services
Commercial first mortgage loans, subordinate financings, and other commercial real estate debt investments.
Revenue Model
Net interest income earned on commercial real estate loans and debt investments, including first mortgage loans and subordinate financings. As an externally managed REIT, ARI pays management and incentive fees to its Apollo-affiliated manager rather than bearing those costs internally.
Customers & Markets
Commercial real estate borrowers seeking debt financing. End markets include commercial property owners and developers across property types secured by real estate collateral.
Peers: Annaly Capital Management Inc Arbor Realty Trust Inc Chimera Investment Corp Claros Mortgage Trust Inc HA Sustainable Infrastructure Capital Inc KKR Real Estate Finance Trust Inc Ladder Capital Corp Rithm Capital Corp Ready Capital Corp Two Harbors Investment Corp
Source: SEC 10-K, filed 2026-02-10
Financial Snapshot
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