Apollo Global Management has completed the first close of its Apollo Manufactured Housing Property Fund with total commitments of $850m (€737m), according to sources familiar with the commingled fund.
The manager established the fund in late 2025.
Apollo has placed over 40 communities into the fund, according to sources, and the assets now have a gross value of approximately $1.2bn.
The properties in the fund are concentrated on communities in the Sun Belt region in the US, including complexes located in Arizona, Florida, and Texas.
The fund targets core plus assets including existing properties and new development opportunities.
In July 2025 funds managed by Apollo Global committed A$75m (€41.5m) to MaxCap Group’s flagship commercial real estate debt vehicle.
The Apollo funds had previously issued a mandate to MaxCap Group when the US firm bought a 45% equity stake in the Australian non-bank lender in 2021.
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