{"id":1004155821,"date":"2016-10-17T23:29:17","date_gmt":"2016-10-18T07:29:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004155821"},"modified":"2020-04-24T04:59:42","modified_gmt":"2020-04-24T12:59:42","slug":"apollo-commercial-completes-130m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apollo-commercial-completes-130m-loan\/","title":{"rendered":"Apollo Commercial Completes $130M Loan"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004155840\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Jeff.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004155840\" data-attachment-id=\"1004155840\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/apollo-commercial-completes-130m-loan\/jeff-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Jeff.jpg\" data-orig-size=\"665,652\" 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;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Jeff\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Jeff.jpg?w=665\" class=\"wp-image-1004155840 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Jeff.jpg\" alt=\"ARI Chairman Jeffrey M. Gault\" width=\"300\" height=\"294\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Jeff.jpg 665w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Jeff.jpg?resize=300,294 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004155840\" class=\"wp-caption-text\">ARI Chairman Jeffrey M. Gault<\/p><\/div>\n<p><strong>New York<\/strong>\u2014<a href=\"https:\/\/www.apolloreit.com\/\" target=\"_blank\" rel=\"nofollow\">Apollo Commercial Real Estate Finance Inc.<\/a>\u00a0has closed a $130 million junior mezzanine loan, secured by the equity interests in a portfolio of 155 healthcare properties representing 18,662 licensed beds across 20 states.<\/p>\n<p>\u201cThis transaction demonstrates ARI\u2019s commitment to provide the company\u2019s borrowers with creative capital solutions,\u201d ARI CIO Scott Weiner said in a prepared release. \u201cFor this transaction, ARI worked with an existing borrower to tailor the loan for their specific financing needs, while at the same time generating an attractive, risk-adjusted return for ARI.\u201d<\/p>\n<p>The floating-rate junior mezzanine loan has a two-year initial term with three two-year extension options and an appraised loan-to-value of approximately 62 percent. It is part of a $1.05 billion whole loan which also includes a $710 million first mortgage loan and a $165 million senior mezzanine loan provided by investment funds managed by subsidiaries of Apollo Global Management LLC.<\/p>\n<p>The whole loan will be used to refinance existing debt on the portfolio, which includes a $39 million mezzanine loan provided by ARI in 2014, which has been repaid.<\/p>\n<p>The commercial loan brings the company\u2019s year-to-date total capital commitment and deployment to roughly\u00a0$879 million.<\/p>\n<p>Additionally, ARI has received $34.5 million from the repayment of a first mortgage loan secured by a multifamily property in Brooklyn, N.Y.<\/p>\n<p>Earlier this month, the company closed four commercial real estate loan transactions totaling\u00a0$325.5 million and funded\u00a0$16.6 million\u00a0for previously closed loans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company closed on a junior mezzanine loan for a portfolio of 155 healthcare properties across 20 states.<\/p>\n","protected":false},"author":451,"featured_media":1004155840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21783,21754,23891,1600,21742,10],"tags":[],"class_list":["post-1004155821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investment","category-medical-office","category-national","category-new-york","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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