Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 234

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 234
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 to fair value(1,997)(2,099)Commercial mortgage loans37,267 32,432 Residential mortgage loans43,445 35,223 Mark to fair value396 (540)Residential mortgage loans43,841 34,683 Mortgage loans$81,108 $67,115 Athene invests in commercial mortgage loans, primarily on income-producing properties including office and retail buildings, apartments, hotels, and industrial properties. Athene diversifies the commercial mortgage loan portfolio by geographic region and property type to reduce concentration risk. Athene evaluates mortgage loans based on relevant current information to confirm whether properties are performing at a consistent and acceptable level to secure the related debt.

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The distribution of commercial mortgage loans, including those under development, by property type and geographic region is as follows:June 30, 2025December 31, 2024(In millions, except percentages)Fair ValuePercentage of TotalFair ValuePercentage of TotalProperty typeApartment$14,559 39.1 %$11,746 36.2 %Industrial7,849 21.0 %6,793 21.0 %Office building4,217 11.3 %4,162 12.8 %Hotels2,864 7.7 %2,786 8.6 %Retail2,422 6.5 %2,269 7.0 %Other commercial5,356 14.4 %4,676 14.4 %Total commercial mortgage loans$37,267 100.0 %$32,432 100.0 %U.S. regionEast North Central$1,672 4.5 %$1,546 4.8 %East South Central430 1.2 %438 1.3 %Middle Atlantic9,980 26.8 %8,386 25.9 %Mountain1,544 4.2 %1,322 4.1 %New England1,093 2.9 %1,118 3.4 %Pacific6,386 17.1 %5,768 17.8 %South Atlantic6,679 17.9 %6,198