Regions

Apollo to Get US$200 Million Loan For Housing Acquisition

June 8
12:14 AM 2013

According to sources, Deutsche Bank AG has arranged a US$200 million facility for Apollo Global Management LLC. This was with the company's intent to purchase US single family rental homes.

The approved loan will let Apollo acquire, renovate and rent the properties said person who requested not to be named as deals were still left announced. Apollo, a private equity firm, was founded in 1990. It manages US$114 billion worth of assets and is an investor to the Haven Realty Capital LLC. which manages about 1,000 houses in Nevada, Illinois and California.

Deutsche Bank aims to help those money managers who are seeking to take advantage of the housing market recovery. Private equity firms are among the biggest purchasers of foreclosed houses and turned them into rentals.

In March, Deutsche Bank ran an organization of lenders that made offers to Blackstone Group LP and Five Ten Capital LLC.

The spokesperson for the bank, Renee Calabro refused to comment regarding Apollo credit line. Melissa Mandel Kvitko, representative for Apollo also declined to give a statement.

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