Apollo Commercial REIT Sells $9B Book to Insurance Arm

Core Viewpoint - A property lender managed by Apollo Global Management has agreed to sell its portfolio to the insurance arm of the buyout firm due to the real estate investment trust consistently trading below its book value [1] Group 1 - The transaction involves a property lender that is part of Apollo Global Management [1] - The sale is prompted by the underperformance of the publicly listed real estate investment trust, which has been trading below its book value [1]