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Apollo Commercial Real Estate Finance unit enters master repurchase agreement

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Apollo Commercial Real Estate Finance unit enters master repurchase agreement

Apollo Commercial Real Estate Finance Inc.'s indirect wholly owned unit, ACREFI GS LLC, entered into a master repurchase and securities contract agreement with Goldman Sachs Bank USA.

The facility provides for advances of up to $300.0 million for the sale and repurchase of eligible senior mortgage loans and participation interests in senior mortgage loans secured by real estate. It has a maturity date of Nov. 29, 2019, plus a one-year extension at the option of Apollo Commercial Real Estate Finance. Advances under the facility will accrue interest at one-month London Interbank Offered Rate plus a spread, determined on a case-by-case basis for each purchased asset.