On September 23, 2009, Apollo Commercial Real Estate Finance, Inc. (the "registrant") issued a press release announcing that it had priced an underwritten initial public offering of 10,000,000 shares of its common stock, at a price of $20.00 per share, for gross proceeds of $200 million and that it plans to, concurrently with the completion of the offering, complete a private placement of 500,000 shares of its common stock, at a price per share equal to the initial public offering price, to Apollo Global Management, LLC and certain of its affiliates. A copy of that press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(d) Exhibits.

Exhibit No.     Description
99.1            Press Release, dated September 23, 2009, issued by Apollo
                Commercial Real Estate Finance, Inc.