Apollo acquires $400mn stake in Aldar Investment Properties ...United Arab Emirates

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Apollo acquires $400mn stake in Aldar Investment Properties
Following completion of a $400mn transaction, Apollo, through its managed investment vehicles, has acquired an 11.1% minority stake in Aldar Investment Properties (AIP). The subsidiary of Abu Dhabi-listed Aldar Properties is the region’s largest institutional-class real estate platform. The transaction involved the issuance of $400mn in common equity and mandatory convertible preferred equity at 100% of NAV into AIP, which houses Aldar’s core asset management business; this comprises more than $6.3bn of prime real estate assets across retail, residential, commercial, and logistics segments. The diversified portfolio is said to have been highly resilient through a number of challenging econom

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