Paul Simmons has joined New York-based Apollo Real Estate Advisors as a partner responsible for acquisitions and business development. He will focus on opportunistic acquisitions and development in both the US and Mexico.
He was previously a managing director at GE Commercial Finance Real Estate, where he served as head of the firm’s North America retail equity group, risk manager for GE’s capital markets business in New York and risk manager for Mexico and Latin America.
Mexico is a market where Apollo sees “great potential,” managing partner Richard Mack said in a statement.
In addition to hunting for transactions south of the border, the firm is also looking to expand its affordable housing investment platform outside New York City, where it has acquired thousands of units of rent-stabilized housing in the Bronx, Brooklyn and Manhattan, according to Apollo partner James Simmons.
He told delegates at PERE’s inaugural North American Private Equity Real Estate conference this week that they see potential for the strategy elsewhere in the country and are looking at raising a dedicated pool of capital to do so.
Apollo closed it fifth fund on $700 million in March and closed its second dedicated European vehicle last year on $600 million.