Apollo Realty Income Solutions Inc., a non-listed net asset value real estate investment trust sponsored by Apollo Global Management Inc., reported its monthly aggregate NAV. It grew to approximately $1.028 billion as of Nov. 4, 2024, compared to $927.4 million the month prior ending Sept. 30, an increase of approximately 10.84%.
Its declared monthly NAV per share as of Nov. 4, 2024, was as follows (calculations based on full figures in filing, percentages rounded to the nearest hundredth. All month prior NAV per share prices are as of Sept. 30.):
Class S shares had a NAV per share of $21.0056, compared to $20.9620 per share the previous month, an approximate 0.21% increase.
Class D shares had a NAV per share of $21.1168, compared to $21.0807 per share the previous month, an approximate 0.17% increase. The previous month’s transaction price was based on the company’s total NAV per share, as no Class D shares had been sold at that time.
Class I shares had a NAV per share of $20.9352, compared to $20.8876 per share the previous month, an approximate 0.23% increase.
Class F-I shares had a NAV per share of $20.8190 compared to $20.7649 per share the previous month, an approximate 0.26% increase.
Class A-I shares had a NAV per share of $21.1902 compared to $21.1215 per share the previous month, an approximate 0.33% increase.
Class A-II shares had a NAV per share of $21.1320 compared to $21.0670 per share the previous month, an approximate 0.31% increase.
While the REIT has registered nine separate share classes, it has only sold the classes listed. As a result, the transaction price for the remaining share classes (F-S, F-D, A-III) is based on the company’s total NAV per share of $21.1468 as of Nov. 4.
As of Nov. 4, Apollo’s number of outstanding shares was approximately 48.6 million.
The REIT is currently offering up to $5 billion in shares of common stock on a continuous basis, consisting of up to $4 billion in shares in its primary offering and up to $1 billion in shares pursuant to its distribution reinvestment plan. As of Nov. 19, it has issued and sold in the offering approximately 42.6 million shares of its common stock in the primary offering for total proceeds of approximately $878.5 million; and more than 302,000 shares of its common stock pursuant to its distribution reinvestment plan for a total value of approximately $6.3 million.
The REIT also reported several highlights for the third quarter which may have helped contributed to the NAV increase. The REIT said that it raised $136 million, including $1.7 million from its distribution reinvestment plan, of net proceeds in the offering and declared monthly net distributions totaling $12 million during the third quarter.
Similarly, the REIT reported that inception through September 2024 produced total annualized returns of 7.69% for Class A-II shares; 7.96% for Class A-I shares; 6.22% for Class F-I shares; 6.34% for Class I Shares; and 5.59% for Class S Shares. The inception date for Class A-II, Class A-I, Class F-I, Class I, and Class S shares was Jan. 3, 2024; April 4, 2023; Dec. 22, 2022; Feb. 1, 2024; and May 1, 2024, respectively.
The REIT also said that it originated favorable interests in multiple fixed-rate and floating rate loans secured by various commercial real estate properties including multifamily communities, a life science property, and a data center.
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