Key facts
- Apollo is closing its mortgage real estate investment trust (REIT).
- The closure follows the sale of its $9 billion loan portfolio.
- The market for real estate investments is described as challenging.
- Apollo is exiting the mortgage REIT sector.
Apollo is preparing to shutter its mortgage real estate investment trust (REIT) following the successful sale of its $9 billion loan portfolio. This strategic decision marks an exit from the mortgage REIT sector for the firm. The sale of the substantial loan portfolio is a key factor leading to the closure of the REIT. This move occurs within a broader context of a challenging market for real estate investments, which has impacted the performance and viability of such trusts. Apollo's decision indicates a response to these prevailing market conditions and a potential reallocation of resources to other investment areas. The closure of the mortgage REIT is expected to be completed following the finalization of the loan portfolio sale and subsequent wind-down procedures.