Apollo Global Management Inc. is planning to dissolve a property lender that backed developments including Manhattan’s 111 W. 57th St. on Billionaires’ Row.
Apollo Commercial Real Estate Finance Inc. Chief Executive Officer Stuart Rothstein said in a statement Monday that after carefully evaluating a broad range of real estate-related strategies and potential deals, the board determined that dissolving the real estate investment trust and liquidating its assets “is in the best interest of the company” and stockholders.
The company, also known as ARI, struck a deal earlier this year to offload a $9 billion loan book to Apollo’s insurance firm ...
