Adnoc, Apollo-led consortium ink $5.5 billion real estate deal

Adnoc, Apollo-led consortium ink $5.5 billion real estate deal

Abu Dhabi / WAMThe Abu Dhabi National Oil Company (Adnoc), announced on Wednesday, that it has entered into a long-term strategic investment with accounts and entities owned and/or advised by Apollo Global Management Inc. and its subsidiaries (collectively "Apollo“), one of the world's largest alternative investment managers, and a group of institutional investors, for an underlying real estate portfolio valued at $5.5 billion. The strategic investment will leverage the rental income streams from select Adnoc real estate assets under a 24-year master lease agreement. The investment will unlock new pools of global institutional long-term capital for Adnoc, while supporting investment in its core business and strategic growth projects. In one of the region's largest real estate transactions, Apollo led a consortium of institutional investors in the acquisition of a 49