Apollo invests $28M in office first mortgage

Apollo Commercial Real Estate Finance, a commercial real estate financial services company, has completed the origination of a first mortgage on an unnamed office condo in Manhattan, according to an announcement made yesterday. The $28 million mortgage is secured by the fully-occupied 73,500-square-foot, two-floor office condo. Apollo has now deployed approximately $377 million, or 74 percent, of the equity capital recorded in its initial public offering, to date. The majority of that capital — approximately $267 million — is invested in commercial mortgage-backed securities. TRD