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ARI, JP Morgan Chase Upsize Credit Facility to $800MM

May 27, 2016, 07:22 AM
Filed Under: Real Estate
Related: JPMorgan Chase

Apollo Commercial Real Estate Finance, Inc. (ARI), announced the company closed two commercial real estate loan transactions totaling $95.5 million, bringing year to date transaction volume to $423.5 million of committed capital. In addition, ARI amended the Company’s master repurchase agreement with JPMorgan Chase Bank, N.A., (“JPMorgan Facility”) increasing the borrowing capacity to $800 million from $600 million.

During the second quarter, ARI, through wholly owned subsidiaries, entered into an amendment to the JPMorgan Facility to increase the borrowing capacity to $800 million from $600 million. In connection with the JPMorgan Facility, the Company has received approximately $115 million of borrowings for the first mortgage loan secured by an assemblage of properties in the Design District of Miami that does not count toward the $800 million maximum capacity under the JPMorgan Facility. The other terms of the JPMorgan Facility will remain the same.

Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that primarily originates, invests in, acquires and manages performing commercial real estate first mortgage loans, subordinate financings, commercial mortgage-backed securities and other commercial real estate-related debt investments.

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