NEW YORK--(BUSINESS WIRE)--Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) today announced the underwriters for the Company’s recently announced public offering of 12,000,000 shares of common stock have exercised in full their option to purchase up to an additional 1,800,000 shares. After giving effect to the full exercise of the option, the total estimated gross proceeds from the offering totaled approximately $251.9 million. Settlement of the sale of the additional shares occurred concurrent with the closing of the offering today, June 5, 2017.

ARI intends to use all or a portion of the net proceeds from the offering to acquire or originate the Company's target assets, which include commercial first mortgage loans, subordinate financings, commercial mortgage backed securities (“CMBS”) and other commercial real estate-related debt investments, and for working capital and other general corporate purposes, including the repayment of borrowings outstanding under the Company's repurchase agreements (excluding repurchase agreements secured by the Company’s CMBS portfolio).

Citigroup, J.P. Morgan, BofA Merrill Lynch and Morgan Stanley were the joint book-running managers for the offering and JMP Securities was the co-manager for the offering.

About Apollo Commercial Real Estate Finance, Inc.

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings, CMBS and other commercial real estate-related debt investments. 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 approximately $197.5 billion of assets under management at March 31, 2017.