Below news suggests that the new Apollo REIT will be focussing on acquiring positions in CMBS.
Good news considering all the so called experts..... claim that the CMBS markets will be closed for a few more years.
Cheers
http://www.mortgageorb.com/e107_plugins/content/content.php?content.3913
Apollo REIT To Focus On CMBS
in News > Commercial Mortgage
By MortgageOrb.com on Friday 17 July 2009
A Securities and Exchange Commission filing by Apollo Global Management shows the company is planning to raise $600 million in a public offering of shares in its commercial property fund.
Apollo Commercial Real Estate Finance will be organized as a real estate investment trust (REIT) and have a focus on properties in major cities, according to the filing. The REIT plans to buy commerical mortgage-backed securities.
JPMorgan Chase will underwrite the stock, and Joseph Azrack will serve as CEO of Apollo Commercial Real Estate Finance.
apollo reit to focus on cmbs
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