Company: ARI
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0000950170-25-017122
Chunk: 86

Company: Apollo Commercial Real Estate Finance, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 7
Chunk 86
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 of undrawn capacity under our secured debt arrangements and $134.5 million of additional capacity on our construction financing secured by our Brooklyn Multifamily Development property (as defined in "Note 3 - Fair Value Disclosure"), which is available to fund future construction costs.

We maintain policies relating to our use of leverage. See "Leverage Policies" above. In the future, we may seek to raise further equity or debt capital or engage in other forms of borrowings in order to fund future investments or to refinance expiring indebtedness.

We generally intend to hold our assets for investment, although we may sell certain of our investments in order to manage our interest rate risk and liquidity needs, meet other operating objectives and adapt to market conditions.

To maintain our qualification as a REIT under the Internal Revenue Code, we must distribute annually at least 90% of our REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gain. These distribution requirements limit our ability to retain earnings and replenish or increase capital for operations. 

Borrowings Under Various Financing Arrangements 

The following table summarizes the outstanding balances and maturities for our various financing arrangements: 

    December 31, 2024
     
    December 31, 2023

    Borrowings Outstanding(1)

    Maturity (2)
     
    Borrowings Outstanding(1)

    Maturity (2)

    Secured Credit Facilities
     
    $
    3,235,982

    November 2026
     
    $
    3,247,652

    June 2026

    Barclays Private Securitization(3)

    1,587,780

    May 2027

    2,157,157

    June 2026

    Revolving Credit Facility

    —

    March 2026

    147,000

    February 2025

    Total Secured Debt Arrangements

    4,823,762

    5,551,809

    Debt Related to Real Estate Owned

    327,662

    July 2027

    164,835

    August 2027

    Senior Secured Term Loans

    761,250

    January 2027

    769,250

    January 2027

    Senior Secured Notes

    500,000

    June 2029

    500,000

    June 2029