Apollo CRE Finance Q3 2024 10-Q Filed

TL;DR

APOLLO CRE FINANCE Q3 10-Q IS IN. FINANCIALS LOOK SOLID.

AI Summary

Apollo Commercial Real Estate Finance, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operations, including information on assets, liabilities, and equity. Specific financial instruments and their valuations are disclosed, such as foreign exchange forwards and convertible debt.

Why It Matters

This filing provides investors with a detailed look into Apollo CRE Finance's financial health and strategic positioning as of the third quarter of 2024.

Risk Assessment

Risk Level: medium — The filing contains detailed financial data and disclosures that require careful analysis to fully understand potential risks.

Key Numbers

• 2024-09-30 — Reporting Period End (Financial data pertains to this date.)
• 2024-10-30 — Filing Date (Date the 10-Q was submitted to the SEC.)

Key Players & Entities

• Apollo Commercial Real Estate Finance, Inc. (company) — Filer
• Apollo Global Management, LLC (company) — Business and Mail Address
• 2024-09-30 (date) — Reporting Period End
• 2024-10-30 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — nge on Which Registered Common Stock, $0.01 par value ARI New York Stock Exchan

Filing Documents

• ari-20240930.htm (10-Q) — 4429KB
• ari-ex31_1.htm (EX-31.1) — 14KB
• ari-ex31_2.htm (EX-31.2) — 17KB
• ari-ex32_1.htm (EX-32.1) — 17KB
• 0000950170-24-119007.txt ( ) — 21595KB
• ari-20240930.xsd (EX-101.SCH) — 2528KB
• ari-20240930_htm.xml (XML) — 4723KB

- Financial Information

Part I - Financial Information

Financial Statements

Item 1. Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 40

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 61

Controls and Procedures

Item 4. Controls and Procedures 62

- Other Information

Part II - Other Information

Legal Proceedings

Item 1. Legal Proceedings 63

Risk Factors

Item 1A. Risk Factors 63

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 63

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 63

Other Information

Item 5. Other Information 63

Exhibits

Item 6. Exhibits 64 See notes to unaudited condensed consolidated financial statements. 2

- FINANCIA L INFORMATION

PART I - FINANCIA L INFORMATION

Financial Statements

Item 1. Financial Statements Apollo Commercial Real Estate Finance, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) (in thousands—except share data) September 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 194,287 $ 225,438 Commercial mortgage loans, net (1)(3) 7,456,389 7,925,359 Subordinate loans, net (2)(3) 374,222 432,734 Real estate owned, held for investment, net (4) (net of $ 20,883 and $ 10,404 accumulated depreciation in 2024 and 2023, respectively) 708,478 519,498 Other assets 364,136 85,623 Derivative assets, net 577 29,425 Assets related to real estate owned, held for sale — 78,653 Total Assets $ 9,098,089 $ 9,296,730 Liabilities and Stockholders' Equity Liabilities: Secured debt arrangements, net $ 5,513,945 $ 5,538,476 Senior secured term loans, net 755,441 759,150 Senior secured notes, net 496,233 495,637 Debt related to real estate owned, held for investment, net 278,837 161,562 Accounts payable, accrued expenses and other liabilities (5) 165,850 120,334 Derivative liabilities, net 10,592 — Payable to related party 8,803 9,553 Liabilities related to real estate owned, held for sale — 3,285 Total Liabilities 7,229,701 7,087,997 Commitments and Contingencies (see Note 18) Stockholders' Equity: Preferred stock, $ 0.01 par value, 50,000,000 shares authorized, Series B-1, 6,770,393 shares issued and outstanding ($ 169,260 liquidation preference) in 2024 and 2023 (see Note 17) 68 68 Common stock, $ 0.01 par value, 450,000,000 shares authorized, 138,169,164 and 141,358,605 shares issued and outstanding in 2024 and 2023, respectively 1,382 1,414 Additional paid-in-capital 2,691,776 2,727,488 Accumulated deficit ( 824,838 ) ( 520,237 ) Total Stockholders' Equity 1,868,388 2,208,733 Total Liabilities and Stockholders' Equity $ 9,098,089 $ 9,296,7

View Full Filing

View this 10-Q filing on SEC EDGAR