In the two loan transactions, Apollo Commercial Real Estate closed $50 million first mortgage loan which was secured by two office buildings. The company also closed a $45.5 million first mortgage loan which was secured by five residential and commercial properties. Through these loan transactions, Apollo Commercial Real Estate is expanding into the floating-rate first mortgage loan market. Further, these deals with financially robust sponsors are likely to improve the present use of the properties. Apollo Commercial Real Estate is engaged in investing in, acquiring and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt and loans, and other real estate debt advice investments. The stock presently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the mREIT space include Capstead Mortgage Corp.
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