<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:ns2="http://www.sec.gov/edgar/common">
    <headerData>
        <submissionType>144</submissionType>
        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001128865</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>



        </filerInfo>
    </headerData>
    <formData>
        <issuerInfo>
            <issuerCik>0001467760</issuerCik>
            <issuerName>APOLLO COMMERCIAL REAL ESTATE</issuerName>
            <secFileNumber>001-34452</secFileNumber>
            <issuerAddress>
                <ns2:street1>9 West 57th Street, 43rd Floor,</ns2:street1>
                <ns2:city>New York, New York</ns2:city>
                <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                <ns2:zipCode>10019</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>212515-3200</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>STUART ROTHSTEIN</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>38th Fl.</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>40000</noOfUnitsSold>
            <aggregateMarketValue>403600.00</aggregateMarketValue>
            <noOfUnitsOutstanding>141353133</noOfUnitsOutstanding>
            <approxSaleDate>10/16/2023</approxSaleDate>
            <securitiesExchangeName>NYSE</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>11/03/2015</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock Units</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>40000</amountOfSecuritiesAcquired>
            <paymentDate>11/03/2015</paymentDate>
            <natureOfPayment>N/A</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>10b5-1 Sales for STUART A ROTHSTEIN</name>
                <address>
                    <ns2:street1>9 West 57th Street, 43rd Floor,</ns2:street1>
                    <ns2:city>New York, New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10019</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>07/17/2023</saleDate>
            <amountOfSecuritiesSold>40000</amountOfSecuritiesSold>
            <grossProceeds>472000.00</grossProceeds>
        </securitiesSoldInPast3Months>
        <remarks>The securities to be sold were acquired upon the vesting of restricted stock units during the period of 11/03/2015 through 01/27/2023.
</remarks>
        <noticeSignature>
            <noticeDate>10/16/2023</noticeDate>
            <planAdoptionDates>
                <planAdoptionDate>02/21/2023</planAdoptionDate>
            </planAdoptionDates>
            <signature>/s/ Stuart Rothstein</signature>
        </noticeSignature>
    </formData>
</edgarSubmission>
[{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 4232}]
144
0001128865
XXXXXXXX
LIVE
0001467760
APOLLO COMMERCIAL REAL ESTATE
001-34452
9 West 57th Street, 43rd Floor,
New York, New York
NY
10019
212515-3200
STUART ROTHSTEIN
Officer
COMMON
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
38th Fl.
New York
NY
10004
40000
403600.00
141353133
10/16/2023
NYSE
Common
11/03/2015
Restricted Stock Units
Issuer
N
40000
11/03/2015
N/A
N
10b5-1 Sales for STUART A ROTHSTEIN
9 West 57th Street, 43rd Floor,
New York, New York
NY
10019
Common
07/17/2023
40000
472000.00
The securities to be sold were acquired upon the vesting of restricted stock units during the period of 11/03/2015 through 01/27/2023.
10/16/2023
02/21/2023
/s/ Stuart Rothstein