Apollo to Add to Real Estate Operations
March 11, 2010- Share:
Apollo Investment Management has reportedly struck a deal with Citigroup to acquire Citi Property Investors. The unit has a portfolio of 65 real estate investments across the globe with a total value of $3.5 billion. Citigroup valued the unit at $12.5 billion as of June. Joseph Azrack who headed Citi Property from 2004 to 2008 is now currently heading Apollo's real estate unit.
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