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Going Private • Real Estate

Apollo Global Management Acquires The New Home

On July 23, 2021, asset manager Apollo Global Management acquired real estate company The New Home for 338M USD

Acquisition Context
  • This is Apollo Global Management’s 4th transaction in the Real Estate sector.
  • This is Apollo Global Management’s 47th largest (disclosed) transaction.
  • This is Apollo Global Management’s 79th transaction in the United States.
  • This is Apollo Global Management’s 11th transaction in California.

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M&A Deal Summary
Date July 23, 2021
Target The New Home
Sector Real Estate
Buyer(s) Apollo Global Management
Deal Type Going Private
Deal Value 338M USD
Advisor(s) Citi (Financial)
Latham & Watkins (Legal)

Target Company

The New Home

Irvine, California, United States
The New Home is a new generation homebuilder focused on the design, construction, and sale of innovative and consumer-driven homes in key markets across California, Arizona, and Colorado. The Company’s range of product offerings from entry-level up through luxury homes and communities have generated significant organic growth. The New Home was formed in 2009 and is based in Irvine, California.
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Buyer Overview 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

Deal Context for Buyer #
Overall 111 of 152
Sector: Real Estate 4 of 5
Type: Going Private 24 of 31
State: California 11 of 17
Country: United States 79 of 108
Year: 2021 13 of 20
Size (of disclosed) 47 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-05 RDM Group

Milan, Italy

RDM Group is a producer of coated recycled carton board, the largest in Italy, France, and the Iberian Peninsula. RDM group’s portfolio of products includes mainly recycled cardboard, used mainly for packaging and folding cartons in all the major product sectors. RDM Group is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Lumen Technologies-ILEC Business

Monroe, Louisiana, United States

Lumens' ILEC (incumbent local exchange carrier) business, includes its consumer, small business, wholesale and mostly copper-served enterprise customers and assets. Lumen Technologies' ILEC Business is based in Monroe, Louisiana.

Buy $7.5B

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