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Apollo real estate units see leadership exits and fund manager change
Apollo Realty Income Solutions is a nontraded REIT with $123B in real estate debt and assets, and its CEO, president and director posts are shifting at the end of September.
Bisnow reports that two senior leaders within Apollo Global Management’s real estate business are leaving the firm, about three months after Apollo said it was shutting down its publicly traded mortgage REIT.
The outlet says Jess Lipsey, who leads Apollo Realty Income Solutions, plans to resign at the end of September from his roles as CEO, president and director, and he will be replaced in all three positions by Bert Crouch, who joined Apollo in 2025 as head of its real estate equity platform.
Bisnow also reports that Spencer Propper resigned as portfolio manager of the Apollo Diversified Real Estate Fund, but will remain with the firm through March 31 to help with the transition, while Jonathan Stachel was promoted to associate portfolio manager and will manage the fund portfolio alongside Stuart Rothstein, Apollo’s real estate group chief operating officer.
The firm did not respond to a request for comment on the staffing changes, according to Bisnow.