NEW YORK, NY--(Marketwire - Aug 1, 2012) - Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (NYSE: [ ARI ]) today announced the closing of an underwritten public offering of the Company's 8.625% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") with a liquidation preference of $25 per share.

In connection with the offering, the underwriters exercised their option to purchase an additional 450,000 shares of the Series A Preferred Stock on the same terms and conditions. Together with the exercise of the underwriters' option to purchase additional shares, the Company sold an aggregate of 3,450,000 shares, which generated net proceeds to the Company of approximately $83.2 million, after deducting the underwriting discount and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to repay amounts outstanding under the Company's master repurchase facility with JPMorgan Chase Bank, N.A and the balance to acquire the Company's target assets, which include commercial first mortgage loans, commercial mortgage-backed securities, subordinate financings and other commercial real estate-related debt investments, and for general corporate purposes.

Citigroup and BofA Merrill Lynch acted as the joint book-running managers for the offering. J.P. Morgan and RBC Capital Markets acted as the joint lead managers for the offering. Stifel Nicolaus Weisel and Barclays acted as co-managers for the offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. A copy of the prospectus supplement and prospectus related to the offering can be obtained by contacting Citigroup, Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Email: [ BATProspectusdept@citi.com ], Telephone: 800-831-9146 or BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, 7th Floor, New York, NY 10038, Email: [ dg.prospectus_requests@baml.com ].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Apollo Commercial Real Estate Finance, Inc.
Apollo Commercial Real Estate Finance, Inc. (NYSE: [ ARI ]) is a commercial mortgage real estate investment trust that primarily originates, invests in, acquires and manages senior performing commercial real estate mortgage loans, commercial mortgage-backed securities and other commercial real estate-related debt investments throughout the U.S. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, LLC, a leading global alternative investment manager with $86 billion of assets under management at March 31, 2012. 

Additional information can be found on the Company's website at [ www.apolloreit.com ].

Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These forward-looking statements include information about possible or assumed future results of the Company's business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: the return on equity; the yield on investments; the ability to borrow to finance assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company's beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.