07:43 AM EST, 01/28/2026 (MT Newswires) -- Apollo Commercial Real Estate Finance ( ARI ) said Wednesday it has entered into a definitive agreement to sell its entire $9 billion commercial real estate loan portfolio to Athene for a price based on 99.7% of total loan commitments.

The price is net of asset-specific Current Expected Credit Losses reserves and excludes two loans totaling $146 million that are expected to be repaid before closing, Apollo said.

The company said it expects the transaction to close in Q2.

Apollo said it will retain all of the net equity interest in the real estate properties that it holds, which totaled $466 million as of Sept. 30, 2025.