{"id":1004024325,"date":"2010-11-12T14:21:15","date_gmt":"2010-11-12T22:21:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004024325"},"modified":"2022-12-08T20:12:36","modified_gmt":"2022-12-09T04:12:36","slug":"apollo-buys-citi-property-investors","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apollo-buys-citi-property-investors\/","title":{"rendered":"Apollo Buys Citi Property Investors"},"content":{"rendered":"<p>November 12, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004024326\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/11\/morrissey2.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004024326\" data-attachment-id=\"1004024326\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/apollo-buys-citi-property-investors\/morrissey-12\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/11\/morrissey2.jpg\" data-orig-size=\"500,375\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"morrissey\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user morrissey&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/11\/morrissey2.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/11\/morrissey2.jpg\" alt=\"\" title=\"morrissey\" width=\"300\" height=\"225\" class=\"size-medium wp-image-1004024326\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/11\/morrissey2.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/11\/morrissey2.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004024326\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user morrissey<\/p><\/div>\n<p>An affiliate of Apollo Global Real Estate Management, L.P., the real estate investment management group of Apollo, has completed its purchase of Citi Property Investors, the real estate arm of Citigroup Inc.<\/p>\n<p>While the deal\u2019s financials are not being released, Citi had more than $3 billion in assets under management as of June 30. Apollo and Citi signed a purchase agreement in May.<\/p>\n<p>According to former Citi president &amp; CEO and current managing partner and head of Apollo Global Real Estate Management Joseph Azrack, who will lead the joined organizations, the global reach of the combined platform will strengthen Apollo\u2019s investor services and help provide a base for growth. He announced that Roger Orf, who was most recently the president &amp; CEO of Citi, will now serve as the head of Apollo Global Real Estate Management\u2019s Europe branch. He will work with North American head Ray Mikulich and Asia Pacific head Grant Kelley.<\/p>\n<p>Most Citi employees will now become part of Apollo Global Real Estate Management, which will also take over management of Citi\u2019s funds, including flagship funds CPI Capital Partners Asia Pacific L.P., CPI Capital Partners Europe, L.P., and CPI Capital Partners North America L.P.<\/p>\n<p>The combined organization will be based in New York with other offices in London, Hong Kong, Mumbai and Los Angeles.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the deal&#8217;s financials are not being released, Citi had more than $3 billion in assets under management as of June 30. Apollo and Citi signed a purchase agreement in May.<\/p>\n","protected":false},"author":936,"featured_media":1004024326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21742],"tags":[],"class_list":["post-1004024325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Apollo Buys Citi Property Investors - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/apollo-buys-citi-property-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apollo Buys Citi Property Investors\" \/>\n<meta property=\"og:description\" content=\"While the deal&#039;s financials are not being released, Citi had more than $3 billion in assets under management as of June 30. Apollo and Citi signed a purchase agreement in May.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/apollo-buys-citi-property-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-11-12T22:21:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:12:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/11\/morrissey2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apollo-buys-citi-property-investors\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apollo-buys-citi-property-investors\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"Apollo Buys Citi Property Investors\",\"datePublished\":\"2010-11-12T22:21:15+00:00\",\"dateModified\":\"2022-12-09T04:12:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apollo-buys-citi-property-investors\\\/\"},\"wordCount\":247,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apollo-buys-citi-property-investors\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/11\\\/morrissey2.jpg\",\"articleSection\":[\"Featured\",\"Finance\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apollo-buys-citi-property-investors\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apollo-buys-citi-property-investors\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apollo-buys-citi-property-investors\\\/\",\"name\":\"Apollo Buys Citi Property Investors - 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