SOURCE: Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc.

February 16, 2010 09:20 ET

Apollo Commercial Real Estate Finance, Inc. Announces Additional Capital Deployment

NEW YORK, NY--(Marketwire - February 16, 2010) - Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (NYSE: ARI) announced today that it has completed the origination of a $28.0 million first mortgage secured by a fully occupied office condominium located in a premier Manhattan office building. The two-floor office condominium comprises approximately 73,500 square feet and is the corporate headquarters for the sole tenant. The $28.0 million loan is a five-year fixed rate loan with an interest rate of 8% amortizing on a 30-year schedule and represents an approximate loan-to-value of 54%.

With the completion of this investment, the Company has now completed investments totaling $377.0 million, which involved the deployment of $155.8 million, or approximately 74%, of the equity capital raised in the Company's initial public offering. To date, the Company's portfolio is comprised of the following assets:

  --  Newly originated first mortgage loans totaling $60.0 million
  --  Newly originated mezzanine loans totaling $50.0 million
  --  Commercial mortgage-backed securities ("CMBS") totaling $267.0

About Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a commercial real estate finance company focused primarily on originating, investing in, acquiring and managing senior performing commercial real estate mortgage loans, CMBS, and other commercial real estate-related debt investments in the U.S. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company, an indirect subsidiary of Apollo Global Management, LLC.

Additional information can be found on the Company's website at

Forward-Looking Statements

This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions related to ARI's expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct.