UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) has closed its $5.5 billion real estate investment partnership with entities owned and/or advised by New York-headquartered Apollo Global Management's subsidiaries and a group of institutional investors, according to Reuters.

The closing will lead to a $2.7 billion combined investment in select ADNOC real estate assets by the Apollo-led consortium, ADNOC announced in a statement on Tuesday.

The consortium owns a 49% stake in Abu Dhabi Properly Leasing Holding Company, a wholly-owned affiliate of ADNOC, while ADNOC holds the majority remaining stake.

It is noteworthy to mention that in early September, a consortium led by New York-headquartered Apollo Global Management reached a long-term strategic agreement with ADNOC to invest in some of ADNOC's real estate assets worth $5.5 billion.