Real Estate After the Reset

The Opportunity After the Reset

Commercial real estate has spent the past several years adjusting to higher interest rates, tighter lending conditions and a significant reset in property values. Throughout this period, the strategy was largely positioned to play defense and generage tax advantaged income while navigating a difficult real estate environment.

Many of our clients will recognize this strategy by its former name, the Griffin Institutional Access Real Estate Fund (GIREX). The fund is now the Apollo Diversified Real Estate Fund (ADREF), and Apollo has made meaningful changes to the strategy.

Apollo has expanded the fund’s investment mandate and provided greater access to investments originated across its broader platform. The strategy can now allocate more dynamically across private and public real estate equity and credit, while also accessing areas such as infrastructure, asset-backed investments, hard assets and contracted cash flows.

We believe these changes are particularly interesting today. Real estate valuations have reset, new construction has slowed, and capital remains constrained across many parts of the market. As the real estate cycle evolves, investors with capital, flexibility and access may have a very different opportunity set than they did just a few years ago.

What We’ll Cover

During this webinar, we’ll sit down with the Apollo team to discuss what has changed within ADREF and why it matters for both existing and prospective investors. We’ll explore the expanded investment mandate, how Apollo’s broader platform is contributing investment opportunities, and how the team is allocating across equity and credit as market conditions evolve.

We’ll also look at where Apollo is finding value today, including the fund’s current emphasis on residential, industrial and select specialty sectors, and how Apollo is using different parts of the capital structure to pursue opportunities beyond traditional property ownership.

Most importantly, we’ll discuss why Apollo is shifting from defense to offense and what that means for the portfolio going forward. We’ll explore how the combination of reset valuations, capital scarcity and Apollo’s expanded investment capabilities may create opportunities as the real estate market enters its next phase.

Who Should Attend?

Whether you originally invested in the strategy as GIREX, currently own ADREF, or are being introduced to the fund for the first time, this discussion is designed to provide a clearer understanding of what has changed, where Apollo sees value today, and how the strategy is positioned for the next phase of the real estate cycle.

If you’re interested in real estate, looking to diversify beyond traditional stock and bond portfolios, or simply want to hear how Apollo is approaching today’s market, we hope you’ll join us.

Additional Resource Links:
Apollo Diversified Real Estate Fund
Apollo Real Estate Platform
Apollo: Real Estate Opportunities in 2026
Apollo Diversified Real Estate Fund Prospectus & SEC Filing