Apollo Realty Income Solutions, Inc.

Principal Executive Office

Our principal executive office is located at 9 West 57th Street, 42nd Floor, New York, New York 10019, telephone 212-515-3200.

• ARIS Mortgage Lending, LLC Delaware⁵
• ARIS Mortgage Originations, LLC Delaware⁵
• ARIS Operating Partnership L.P. Delaware⁵
• ARIS Real Assets Holdco I, LLC Delaware⁵
• ARIS Real Assets Holdco II, LLC Delaware⁵
• ARIS Real Assets, LLC Delaware⁵
• ARIS Shepherd Road, LLC Delaware⁵
• ARIS Shook Road, LLC Delaware⁵
• ARIS Washington Street, LLC Delaware⁵
• ARIS West Ashley, LLC Delaware⁵
• ARIS Zerega Ave, LLC Delaware⁵
• Parc Westborough Owner, LLC Delaware⁵

• Valuations and appraisals of our assets are estimates of fair value and may not necessarily correspond to realizable value.
• Our NAV per share amounts may change materially if the appraised values of our properties materially change from prior appraisals or the actual operating results for a particular month differ from what we originally budgeted for that month.
• It may be difficult to reflect, fully and accurately, material events that may impact our monthly NAV.
• NAV calculations are not governed by governmental or independent securities, financial or accounting rules or standards.
• If we are unable to continue to raise substantial funds, we will be limited in the number and type of investments we make, and the value of your investment in us will be more dependent on the performance of any of the specific assets we acquire.
• Compliance with the SEC's Regulation Best Interest by participating broker-dealers may negatively impact our ability to raise capital in the Follow-On Offering, which could harm our ability to achieve our investment objectives.
• Shares of our common stock will not be listed on an exchange or quoted through a national quotation system for the foreseeable future, if ever. Therefore, a stockholder will have limited liquidity and may not receive a full return of their invested capital if such stockholder sells their shares. We are not required by our charter or otherwise to provide liquidity to our stockholders.
• We face risks associated with the deployment of our capital.
• Our board of directors may, in the future, adopt certain measures under Maryland law without stockholder approval that may have the effect of making it less likely that a stockholder would receive a "control premium" for his or her shares.
• Our charter permits our board of directors to issue preferred stock on terms that may be senior to the rights of the holders of our current common stock or discourage a third party from acquiring us.
• Maryland law limits, in some cases, the ability of a third party to vote shares acquired in a "control share acquisition."
• Maryland law and our organizational documents limit our rights and the rights of our stockholders to recover claims against our directors and officers, which could reduce stockholders' and our recovery against them if they cause us to incur losses.
• Maryland law and our organizational documents limit our stockholders' power to amend our charter or dissolve us without the approval of our board of directors.
• Stockholders' interest in us or our underlying assets will be diluted if we issue additional shares or if the Operating Partnership issues additional Operating Partnership units.
• We are not required to comply with certain reporting requirements, including those relating to auditor's attestation reports on the effectiveness of our system of internal control over financial reporting, accounting standards and disclosure about our executive compensation, that apply to other public companies.
• Our UPREIT structure may result in potential conflicts of interest with limited partners in our Operating Partnership whose interests may not be aligned with those of our stockholders.
• Our results of operations may be adversely affected if we are required to register as an investment company under the Investment Company Act.
• We depend on the Adviser to develop appropriate systems and procedures to control operational risk.
• Operational risks, including the risk of cyberattacks, may disrupt our businesses, result in losses or limit our growth.
• Cybersecurity risks and cyber incidents may adversely affect our business by causing a disruption to our operations, a compromise or corruption of our confidential information, a misappropriation of funds, and/or damage to our business relationships, all of which could negatively impact our financial results.
• General Risks Related to Our Investments
• Our operating results will be affected by economic and regulatory changes that impact the real estate market in general.
• The long term impact from major public health events, and related disruptions in the U.S. and global economy and financial markets could adversely impact or disrupt our financial condition and results of operations.
• Climate change-related risks and regulatory and other efforts to address potential climate change impacts could adversely affect our business.
• Evolving investor-related sentiment to environmental, social and/or governance issues could adversely affect our business.
• Our success is dependent on general market and economic conditions.
• Recent macroeconomic trends, including inflation and rising interest rates, may adversely affect our business, financial condition and results of operations.
• Our portfolio is currently concentrated in certain industries and may in the future be concentrated in a limited number of asset types, geographies or investments.
• We may change our investment and operational policies without stockholder approval.
• We may have difficulty selling our properties, which may limit our flexibility and ability to pay distributions.
• We face risks associated with property acquisitions.
• The sale and disposition of real properties carry certain litigation risks at the property level that may reduce our profitability and our results of operations.
• Competition in acquiring properties may reduce our profitability and the return on our stockholders' investments.
• We may make a substantial amount of joint venture investments, including with Apollo affiliates. Joint venture investments could be adversely affected by our lack of sole decision-making authority, our reliance on the financial condition of our joint venture partners and disputes between us and our joint venture partners.
• Acquiring or attempting to acquire multiple properties in a single transaction may adversely affect our operations.
• In the event we obtain options to acquire properties, we may lose the amount paid for such options whether or not the underlying property is purchased.
• In our due diligence review of potential investments, we may rely on third-party consultants and advisors and representations made by sellers of potential portfolio properties, and we may not identify all relevant facts that may be necessary or helpful in evaluating potential investments.
• We rely on property managers to operate our properties and leasing agents to lease vacancies in our properties.
• We depend on tenants for our revenue, and therefore our revenue is dependent on the success and economic viability of our tenants. Our reliance on single or significant tenants in certain buildings may decrease our ability to lease vacated space and could adversely affect our operations and ability to pay distributions.
• We may be unable to renew leases as leases expire.
• Leases with retail properties' tenants may restrict us from re-leasing space.
• Our properties face significant competition.
• Our properties may be leased at below-market rates under long-term leases.
• We depend on the availability of public utilities and services, especially for water and electric power. Any reduction, interruption or cancellation of these services may adversely affect us.
• We may experience material losses or damage related to our properties and such losses may not be covered by insurance.
• We could become subject to liability for environmental violations, regardless of whether we caused such violations.
• Our costs associated with complying with the Americans with Disabilities Act of 1990 (the "ADA") may affect cash available for distributions.
• Our properties are, and any properties we acquire in the future will be, subject to property taxes that may increase in the future, which could adversely affect our cash flow.
• We may be adversely affected by trends in the office real estate industry.
• Our retail tenants will face competition from numerous retail channels.
• Retail properties depend on anchor tenants to attract shoppers and could be adversely affected by the loss of a key anchor tenant.
• Our industrial tenants may be adversely affected by a decline in manufacturing activity in the United States.
• We could be negatively impacted by the condition of Fannie Mae or Freddie Mac and by changes in government support for multifamily housing.
• Short-term multifamily community leases associated with any multifamily residential properties we acquire may expose us to the effects of declining market rent and could adversely impact our ability to make cash distributions to our stockholders.
• Increased levels of unemployment could adversely affect the occupancy and rental rates of any multifamily residential properties we acquire.
• If any credit market disruptions or economic slowdowns occur, any investments in multifamily residential properties may face increased competition from single-family homes and condominiums for rent, which could limit our ability to retain residents, lease apartment units or increase or maintain rents.
• The multifamily residential properties in which we invest must comply with the Fair Housing Amendment of 1988.
• The hospitality or leisure industry is seasonal.
• The hospitality or leisure market is highly competitive and generally subject to greater volatility than our other market segments.
• Technological innovations may disrupt the markets and sectors in which we operate and subject us to increased competition or negatively impact the tenants of our properties and the value of our properties.
• General Risks Related to Investments in Real Estate-Related Debt and Real Estate-Related Debt Securities
• Investments in real estate-related debt securities are subject to risks including various creditor risks and early redemption features which may materially adversely affect our results of operations and financial condition.
• Our debt investments face prepayment risk and interest rate fluctuations that may adversely affect our results of operations and financial condition.
• Reinvestment risk could affect the price for shares of our stock or their overall returns.
• Real estate debt investments face a number of general market-related risks that can affect the creditworthiness of issuers, and modifications to certain loan structures and market terms make it more difficult to monitor and evaluate investments.
• The operating and financial risks of issuers and the underlying default risk across capital structures may adversely affect our results of operations and financial condition.
• We may invest in high-yield securities which are generally subject to more risk than higher rated securities.
• Some of our securities investments may become distressed, which securities would have a high risk of default and may be illiquid.