Apollo closes latest fund with $700m.Apollo Real Estate Advisors, one of the most active real estate investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. in the U.S. and internationally, has closed its latest domestic opportunity fund, Apollo Real Estate Investment Fund V, L.P., with a total of $700 million, the firm announced. Fund V, which was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. , will invest in a variety of real estate assets across sectors, including commercial, residential, hospitality and mixed-use, said Lee Neibart, Apollo senior partner. "We are very pleased with the response to our newest domestic fund and look forward to continuing Apollo's track record of strong performance for our investors," Neibart said. "We're targeting Fund V toward a mix of investments that we believe are dynamic opportunities in growing, urban markets. Key markets for Apollo investments include the New York metro For the region, see . Metro New York is a free daily newspaper in New York City started in 2004. Its main competition is AM New York, with which it practices many of the same distribution and marketing strategies. area, Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , Washington, D.C., Florida and Hawaii." In recent months, Apollo has invested in a diverse portfolio of real estate, including Monument III, a 190,000 s/f office building being developed near Dulles Airport outside Washington, D.C; the Classic, a condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. conversion in Stamford, Conn; and the Kahala, a five-star luxury hotel in Oahu, Hawaii. Apollo also has been active in the affordable housing sector of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Earlier this year, the firm acquired the Lafayette-Boynton and Lafayette-Morrison Housing Corporations, a formerly subsidized sub·si·dize tr.v. sub·si·dized, sub·si·diz·ing, sub·si·diz·es 1. To assist or support with a subsidy. 2. To secure the assistance of by granting a subsidy. development with eight buildings and 1,865 units in the Soundview section of the Bronx. Working with state and local officials and tenants, Apollo plans to convert the properties to affordable co-operatives for current residents. Since Apollo's founding in 1993, the firm has overseen the investment of eight real estate funds totaling more than $5 billion in equity. In 2005, the firm closed its second European fund, Apollo European Real Estate Fund II, L.P., with $600 million in equity. Apollo funds collectively have invested in more than 210 transactions with an aggregate value of more than $20 billion. |
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