Christine Boyd
Christine Boyd
Principal at Apollo Global Management
Apollo Global Management (APO) is experiencing a record year, completing almost $8 billion of transactions globally in 2021 through the end of September alone, and on track to reach around $13 billion annually by year-end.
California deals have comprised a big chunk of that total, with the lender being particularly active in the L.A. market. At the forefront of those originations is Christine Boyd, a principal at Apollo.
“Post-COVID, L.A. has been a market where we’ve been able to find a lot of opportunities, not only directly in the studio space, but in the office space, the multifamily space and we’ve also done hotel deals,” Boyd said. “Given L.A.’s resilience, and our long-term view of that resilience, we’ve been able to be very active.”
Boyd moved to San Francisco in 2018 to lead West Coast lending for Apollo. She’s been with the firm since 2015, joining from JPMorgan Chase.
Recent deals include a $205 million, fixed-rate, seven-year senior loan for Ivy Station, a creative office property in Culver City leased to HBO; a $99.3 million, fixed-rate, first mortgage for the acquisition of The Post, a creative office in Beverly Hills that’s fully leased to Live Nation and the United States Postal Service.
Apollo was a consistent market participant, too, even in the early, darker days. In September 2020, it executed a $275 million floating-rate mortgage for Silverstein Properties’ purchase of U.S. Bank Tower in downtown Los Angeles.
“At that point, L.A. had not come back yet. But we have a great relationship with Silverstein, and it was our first deal out in L.A.,” Boyd said. “They decided to work with us just given the certainty of execution, and knowing that we’d take the same long-term view they have on the market.”
As for Boyd’s favorite part of the job?
“It’s absolutely about the people,” she said. “L.A. people are just really authentic and excited about what they’re doing, and I think that makes me all the more excited about what I’m doing, and the opportunities I have to work with them.” — C.C.
