Apollo To Acquire Citi Real Estate Unit
Mar 10 2010 | 11:09am ET
Private equity firm Apollo Management will buy Citigroup’s real estate investment business. The New York-based firm signed a letter of intent to acquire Citi Property Investors, which has $3.5 billion in assets.
The deal, which is expected to close within three months, will more than triple Apollo’s real-estate assets.
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