Apollo Global Management Provides €900M Refinancing for Pan-European Industrial Real Estate Portfolio

Apollo Global Management announced Jan. 29 that Apollo-managed funds have completed approximately €900 million in senior secured financing for a pan-European logistics and industrial real estate portfolio owned by a joint venture between Cerberus Capital Management and Arrow Capital Partners.

The commercial real estate financing, structured as three separate senior loan facilities, will primarily refinance existing debt of the Strategic Industrial Real Estate (SIRE) platform. The portfolio comprises 92 institutional-quality assets totaling more than one million square meters of urban and mid-box logistics and industrial space across the United Kingdom, Germany, the Netherlands, Spain, Ireland, and Poland.

Industrial Real Estate Portfolio Details

The SIRE platform features a diversified tenancy base anchored by long-term, investment-grade occupants located across key, high-demand European distribution corridors. The real estate platform represents a joint venture between Cerberus, a global alternative investment manager, and Arrow Capital Partners, a specialist investor, credit provider, developer and manager of real estate in Europe and Asia-Pacific.

Ben Eppley, Partner and Head of Real Estate Credit, Europe at Apollo, said the transaction reflects demand for consolidated lending solutions. "This bespoke solution refinances a diversified, high-quality portfolio of strategically located logistics and industrial assets, which benefit from resilient demand and supply dynamics," Eppley said. "We continue to see strong interest from sponsors seeking holistic, single lender solutions where we can transact with certainty and scale."

Commercial Real Estate Financing Strategy

Julio Dominguez, Head of European Financings at Cerberus, commented on the refinancing. "Apollo's investment reflects the strong market recognition of the value we have built across our SIRE platform," Dominguez said. "With a high-quality portfolio and robust market fundamentals, this refinancing supports our commitment to advancing our strategy across Europe."

The transaction consolidates the lender base for the institutional-quality portfolio through a single financing source. Apollo structured the deal as a bespoke, senior secured solution for the logistics and industrial portfolio.

Apollo's European Real Estate Activity

Apollo's Real Estate Credit business continues to be one of the most active non-bank lenders across Europe. Recent investments include senior financing for a UK portfolio of purpose-built student accommodation assets and senior financing for Shadowbox Studios' Shinfield Studios, a new major film and TV production hub in the United Kingdom.

Gibson Dunn and Greenberg Traurig acted as legal counsel to the Apollo-managed funds. Eastdil advised Cerberus, and Linklaters acted as legal counsel to Cerberus.