Apollo AX Essential Retail Portfolio DST
Key Investment Facts
Structure: Delaware Statutory Trust
Sponsor: Apollo
Property Type: NNN Retail
Location(s): WA
Estimated Holding Period: 2 Years
Assumable Loan: No Loan; All-Cash
Current Distribution Rate: 4.30%
Distribution Frequency: Monthly
721 Exchange (UPREIT): Mandatory
Investment Overview
The portfolio consists of four standalone grocery assets spanning approximately 39.0 acres, totalling 248,103 square feet of net rentable area and 1,458 parking spaces, built between 1995 and 2001.
Safeway Inc. doing business as Haggen, Inc, a Pacific Northwest grocery banner operating across Washington, is the tenant for all four portfolio assets and functions as a wholly owned subsidiary of Albertsons Companies, Inc., one of the largest food and drug retailers in North America.
The portfolio represents approximately 25% of Haggen’s regional sales, with three of four stores ranking in the top quartile for foot traffic and generating ~4.2 million annual visits for the trailing twelve months ended August 2025.
Investment Highlights
DST is backed by a stable tenant with a long-term lease (Albertsons/Safeway), and thesponsor, Apollo RE Exchange, has structured the offering with a focus on consistent income.
Apollo is 30+ years old, has $631 B total AUM, with 2,785 employees worldwide.
All properties located in growing suburban markets with consistent consumer demand for grocery retail
DST is backed by a stable tenant with a long-term lease (Albertsons/Safeway), and thesponsor, Apollo RE Exchange, has structured the offering with a focus on consistent income.
Investment Sponsor Overview
About Apollo
Founded in 1990, Apollo Global Management, Inc. (Apollo) is a high-growth alternative asset manager with approximately $1T under management. Expanding opportunity is core to their values, and they are dedicated to creating opportunities for more companies, employees, and communities to build a more inclusive economy. Apollo seeks to provide its clients with an excess return at every point along the risk-reward spectrum, from investment-grade to private equity, with a focus on three business strategies: equity, hybrid, and yield. By collaborating across disciplines, with each strategy contributing to and drawing from Apollo’s shared knowledge and experience, they believe they are well-suited to serve their clients' financial return objectives and offer innovative capital solutions to businesses.
Apollo’s Performance
Average Annual Return (ARR): 9.37%
Average Equity Multiple: 1.47x
Average Holding Period: 3.27 Years
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