Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Q4 2019 Earnings Conference Call - Final Transcript

Feb 14, 2020 • 10:00 am ET


Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Q4 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2019 Apollo Commercial Real Estate Finance, Inc. Earnings Conference Call. At this time, all participant lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions].

I'd like to remind everyone that today's call and webcast are being recorded. Please note that they are the property of Apollo Commercial Real Estate Finance, Inc. and that any unauthorized broadcast in any form is strictly prohibited. Information about the audio replay of this call is available in our earnings press release. I'd also like to call your attention to the customary safe harbor disclosure in our press release regarding forward-looking statements.

Today's conference call and webcast may include forward-looking statements and projections, and we ask that you refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these statements and projections. In addition, we will be discussing certain non-GAAP measures on this call, which management believe are relevant to addressing the company's financial performance and are reconciled to GAAP figures in our earnings press release, which is available on the Investor Relations section of our website. We do not undertake any obligation to update our forward-looking statements or projections, unless required by law. To obtain copies of our latest SEC filings, please visit our website at www.apolloreit.com or call us at 212-515-3200.

At this time, I'd like to turn the call over to the company's Chief Executive Officer, Stuart Rothstein.

Stuart A. Rothstein

Thank you, operator. Good morning, and thank you to those of you who are joining us on the Apollo Commercial Real Estate Finance Year-End 2019 Earnings Call. Joining me in New York this morning is our Chief Financial Officer, Jai Agarwal. I would like to begin the call by reviewing some of the highlights of a very successful 2019 and providing an update on the portfolio. I'll conclude with some additional color on the dividend announcement contained in yesterday's earnings release, and then turn the call over to Jai for an update on our financial results.

During 2019, we celebrated ARI's tenth year as a public company, and we are extremely proud of the success and growth of the company since 2009 as well as the strength of the platform we have built. Apollo's commercial real estate credit team has established a leading position in the market, predicated on extensive relationships and a well-earned reputation as a reliable, thoughtful and creative capital source. During the year, ARI committed to $4.2 billion of loan transactions, and the strength and breadth of the platform was evidenced by the diversity of deal types, property types and geographies represented in the book of business.

Highlights for the past year include a broadening of our geographic footprint throughout Europe as well as several sizable transactions, which we believe speak to the benefits ARI receives from the overall Apollo platform. Specifically, our European team had a breakout