# EDGAR Filing Document

**Accession Number:** 0001597634
**File Stem:** 0001398344-25-022207
**Filing Date:** 2025-12
**Character Count:** 2645
**Document Hash:** 0f1817177b05b64c5297c7c3cc96cc51
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-022207.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0001398344-25-022207

**CONFORMED SUBMISSION TYPE**: 424B3

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Apollo Diversified Real Estate Fund
- **CENTRAL INDEX KEY:** 0001597634

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-236203
- **FILM NUMBER:** 251557664

**BUSINESS ADDRESS:**
- **STREET 1:** APOLLO REAL ESTATE FUND ADVISER, LLC
- **STREET 2:** 9 W 57TH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-515-3200

**MAIL ADDRESS:**
- **STREET 1:** APOLLO REAL ESTATE FUND ADVISER, LLC
- **STREET 2:** 9 W 57TH ST
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Griffin Institutional Access Real Estate Fund
- **DATE OF NAME CHANGE:** 20140121

**APOLLO DIVERSIFIED REAL ESTATE FUND**

**Class A Shares (GIREX), Class C Shares (GCREX), Class I Shares (GRIFX),<br> Class L Shares (GLREX), and Class M Shares (GMREX) of Beneficial Interest**

**Supplement dated December 9, 2025 to the Prospectuses and**

**Statements of Additional Information ("SAI") dated February 1, 2025**

This Supplement describes important changes affecting Apollo Diversified Real Estate Fund (the "Fund"). Unless otherwise defined herein, capitalized terms used in this Supplement shall have the same meaning as in the Prospectus or SAI, as applicable. Please review this important information carefully.

Effective as of the close of business on February 3, 2026 (the "Effective Date"), CenterSquare Investment Management LLC ("CenterSquare") will no longer serve as a sub-adviser to the Fund. As of the Effective Date, Apollo Real Estate Fund Adviser, LLC, the Fund's investment adviser, will assume direct management of the portion of the Fund's assets previously managed by CenterSquare.

***\*\*\****

***This Supplement, and each Prospectus and the SAI for Class A, Class C, Class I, Class L and Class M Shares dated February 1, 2025, of the Fund provide relevant information for all shareholders. Each Prospectus and SAI of the Fund have been filed with the U.S. Securities and Exchange Commission and are incorporated by reference. These can be obtained without charge by calling the Fund at 1-888-926-2688 or by visiting www.apollo.com/adref.***

 

***INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE***