Apollo Commercial Real Estate Finance shares surge 10.08% premarket after announcing $9B loan portfolio sale to Athene.

Apollo Commercial Real Estate Finance Inc. (ARI) surged 10.08% in premarket trading following the announcement of a definitive agreement to sell its $9 billion commercial real estate loan portfolio to Athene Holding Ltd. The transaction, approved by ARI’s board, is expected to generate $1.4 billion in net cash and $1.7 billion in common stockholders’ equity, valuing the deal at approximately $12.05 per share. The sale excludes two $146 million loans set to be repaid before closing, and ARI will retain net equity in its real estate properties, valued at $466 million as of September 30, 2025. The move signals a strategic shift to deleveraging and liquidity optimization, with investors likely viewing the transaction as a catalyst for improved capital structure and shareholder value. The premarket rally aligns with earlier gains (4.35%) after the initial announcement, reflecting strong market confidence in the deal’s execution and financial repositioning.