Apollo Realty Income Solutions Total Monthly NAV Increases Almost 6.5%

Apollo Realty Income Solutions Inc., a non-traded net asset value real estate investment trust sponsored by Apollo Global Management Inc., has declared its monthly aggregate NAV. It grew to approximately $835.49 million, compared to $784.59 million the month prior, an increase of approximately 6.49%.

Its declared monthly NAV per share as of July 31, 2024, was as follows (calculations based on full figures in filing, percentages rounded to the nearest hundredth):

Class S shares had a NAV per share of $20.9071, compared to $20.8986 per share the previous month, an approximate 0.04% increase.

Class I shares had a NAV per share of $20.8449, compared to $20.8409 per share the previous month, an approximate 0.02% increase.

Class F-I shares had a NAV per share of $20.7079, compared to $20.6989 per share the previous month, an approximate 0.04% increase.

Class A-I shares had a NAV per share of $21.0378, compared to $21.0176 per share the previous month, an approximate 0.10% increase.

Class A-II shares had a NAV per share of $20.9861, compared to $20.9706 per share the previous month, an approximate 0.07% increase.

While the REIT has registered nine separate share classes, it has only sold the classes listed. As a result, the transaction price for the remaining share classes (D, F-S, F-D, A-III) is based on the company’s total NAV per share of $20.9997 as of July 31.

As of July 31, Apollo’s number of outstanding shares was just under 39.79 million.

In June 2024, the REIT acquired a $65 million pari passu interest in a $190 million floating-rate first mortgage loan secured by an approximately 528,000 square foot hyperscale data center being constructed in Ashburn, Va. Affiliates of Apollo acquired the remaining $125 million pari passu interest in the loan. The loan has a three-year initial term, with two one-year extension options and an interest rate of SOFR plus 350 basis points. The data center is 100% preleased to Amazon Data Services Inc. and guaranteed by Amazon.com, Inc. for 15 years post-delivery of the property.

Also in June, the REIT acquired a $35 million pari passu interest in a $120 million floating-rate first mortgage loan secured a 400-unit luxury multifamily property located in the Paradise Valley submarket of Phoenix. Affiliates of Apollo acquired the remaining $85 million pari passu interest in the loan. The loan has a two-year initial term with three one-year extension options and an interest rate of SOFR plus 300 basis points.

As of June 30, the company had $279.2 million of unfunded commitments related to its investments in real estate debt.

The REIT is currently offering up to $5 billion in shares of common stock on a continuous basis, consisting of up to $4 billion in shares in its primary offering and up to $1 billion in shares pursuant to its distribution reinvestment plan. As of Aug. 19, it has issued and sold in the offering approximately 36.5 million shares of its common stock (Class A-II shares, Class A-I shares, Class F-I shares, Class I shares, and Class S shares) in the primary offering for total proceeds of approximately $749.5 million; and more than 183,000 shares of its common stock (Class A-I shares, Class F-I shares, Class A-II shares, Class I shares) pursuant to its distribution reinvestment plan for a total value of approximately $3.8 million.

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