Apollo poised to take control of Citi Property Investors
Leon Black’s Apollo Global Management is the preferred bidder to take control of Citi Property Investors, the real estate investment arm of Citigroup.
It would be a major deal for Apollo and greatly increase its global assets. Citi’s property investment arm has a large portfolio of properties globally valued at around $12.5bn.
Apollo currently manages assets in 26 countries in Asia, Europe and the U.S valued at around $3.5bn.
Citi is selling the division in a bid to raise funds.
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