California + Retail | December 2, 2020

Apollo Provides Nearly $575M in CRE Loans on Premiere L.A. Properties

New York-based Apollo Global Management, Inc. reported that funds and entities managed by its affiliates closed on more than $300 million in first mortgage loans for THEA at Metropolis in Downtown Los Angeles and L’Ermitage Beverly Hills. Combined with its $274.9 million loan to fund Silverstein Properties’ recent acquisition of US Bank Tower in DTLA, the loans bring Apollo’s total first mortgage lending in Los Angeles to nearly $575 million over a two-month period.

Apollo Funds originated a $250 million first mortgage on THEA at Metropolis, a newly-completed project consisting of 685 luxury rental apartments and 28,287 square feet of commercial space. THEA is part of a larger mixed-use development that encompasses the 350-key Hotel Indigo and two luxury condo towers, as well as multiple restaurants and retail spaces. The five-year floating rate mortgage was part of a refinancing by project sponsor Greenland USA.

Apollo Funds also originated a $56.5 million first mortgage for the L’Ermitage Beverly Hills, a 116-key luxury all-suite hotel in Beverly Hills. The five-year floating rate mortgage helped fund EOS Investor LLC’s acquisition of the property.

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Apollo Global Management

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

Order Reprints